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NYC already has a rent-stabilization policy -- so generally speaking they don't. In fact, tourism bolsters the local economy which provides jobs for local resid
by ng12 10y ago
NYC already has a rent-stabilization policy -- so generally speaking they don't. In fact, tourism bolsters the local economy which provides jobs for local residents.
I personally disagree with time spent being a metric for who gets to live here and who doesn't but people don't take kindly to that sentiment in the US.
- busterarm 10y agoRent Stabilization has been in the process of being phased out since 1970: - Rent Control simply doesn't exist if you or a relative you co-habitated for years with under special conditions lived there before then. - Rent Stabilization for a unit ends the moment the stabilized rent hits within striking distance of market rate or the number of stabilized units in-building drops below a threshold. More units deregulate every year than are added and this is true year over year as well (sole exceptions to the latter being in 2014 & 2015).
- ceras 10y agoBut it's a very slow process: a majority of NYC residents live in below-market-rate housing. And Bill de Blasio's mayor campaign was anchored on preventing "affordable housing" units from leaving the pool, so the rate of decrease may have slowed down.