3 ms·

I don't want to go off-topic but: "Defining "reasonable rent" as 30% of after-tax income (which is about the point at which governments should limit rent level

I don't want to go off-topic but: "Defining "reasonable rent" as 30% of after-tax income (which is about the point at which governments should limit rent levels, IMO)" How on earth would that work?

pw0ncakes 17y ago
Make it illegal to spend more than 30% of one's after-tax income on rent. A fine is assessed to the landlord (and a small token fine of perhaps $50 to the tenant). Now the glut of idiots (and parentally-funded schmucks who currently live in $4000+/month apartments while working unpaid marketing/fashion internships, who would be forced out of the city) willing to destroy their finances in order to live in New York is gone; they're forced by law out of the auction. Our rents are high because we have to compete with these assholes. So let's take them out. Landlords will either lower their rents to reasonable values or accept vacancies.