In NYC rent control refers to a program that freezes rents. It is all but gone, with less than 2% of rental units still in the program. Rent stabilization is a

In NYC rent control refers to a program that freezes rents. It is all but gone, with less than 2% of rental units still in the program. Rent stabilization is a much bigger program that limits rent increases. That program has about 45% of rental units in it. Though it is worth noting that in many parts of the outer boros the market rent is less than the legally mandated rent stabilized rent, and so rent stabilization doesn't end up meaning much. While I think eliminating rent stabilization would help, it isn't a magic bullet. What's really needed is more units. As compared to many other cities NYC is decent about greenlighting new units, but they can do better. First, they need to reign in an out of control landmark process. Individual buildings are one thing, but when they start designating entire neighborhoods it is a problem. Second, there's some significant upzoning that can still happen. Related to the first point, it is one thing to preserve the character of parts of Greenwich Village that are quite nice, and another to preserve the character of the east village. The character of the east village is ugly dense housing. You can best honor that legacy by building modern ugly dense housing instead of "preserving" century plus old ugly dense housing. Third, the housing lottery is a affordable housing theater (a la security theater). It is a waste of everyone's time. Fourth, the city and state should not be putting their thumbs on the scale in negotiations between construction unions and developers. Construction unions have quite enough bargaining power as it is. Higher construction costs push developers towards luxury units. Fifth, the city needs to do its part in terms of developing infrastructure -- above all public transit, but also schools, water, sewage, etc.