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You're ignoring the OPs point. Rent controlled apartments are a rounding error in the grand scheme of making NYC apartments affordable. It's also been around fo

by untog 9y ago

You're ignoring the OPs point. Rent controlled apartments are a rounding error in the grand scheme of making NYC apartments affordable. It's also been around for a very long time, so its effects are well known. As the article outlines, Airbnb is something new.

ordinaryperson 9y ago
Rent controlled and rent stabilized two very different things but both decrease housing inventory. According to this there are 1 million rent stabilized (not controlled) units in NYC: https://ny.curbed.com/2017/4/13/15264890/nyc-apartments-guide-tips-new-york https://ny.curbed.com/2017/4/13/15264890/nyc-apartments-guid... If that's accurate, it's a little bit more than a rounding error. Ultimately there has to be a balance. Throwing out long-time renters isn't a great idea but nor is capping prices to decrease inventory. Personally I favor construction reform -- I mean, look how expensive that 1 mile of the 2nd Ave subway was. It shouldn't be that expensive to build in NYC.
- camgunz 9y ago
  To expound a little; from the actual data source linked in that article: > According to the 2014 NYC Housing and Vacancy Survey, there are about 27,000 rent controlled apartments vs. about 1,030,000 rent stabilized apartments. Like you say, rent control is very different than rent stabilization. Rent control limits the actual rent. Rent stabilization limits the annual rent increase. Rent stabilization doesn't really account for extra stickiness in the housing market (in other words, it doesn't meaningfully decrease housing supply). Rent control does but again, since there are so few of those it's basically a non-factor.
spikels 9y ago
6,200 units on Airbnb in city of 3.4 million homes. Airbnb is also rounding error. If you are concerned about affordability, the focus should be almost entirely on barriers to housing development.
- busterarm 9y ago
  Huh? There's over 30,000 AirBNB listings in NYC.

by untog 9y ago

ordinaryperson 9y ago

Rent controlled and rent stabilized two very different things but both decrease housing inventory. According to this there are 1 million rent stabilized (not controlled) units in NYC: https://ny.curbed.com/2017/4/13/15264890/nyc-apartments-guide-tips-new-york https://ny.curbed.com/2017/4/13/15264890/nyc-apartments-guid... If that's accurate, it's a little bit more than a rounding error. Ultimately there has to be a balance. Throwing out long-time renters isn't a great idea but nor is capping prices to decrease inventory. Personally I favor construction reform -- I mean, look how expensive that 1 mile of the 2nd Ave subway was. It shouldn't be that expensive to build in NYC.

camgunz 9y ago
To expound a little; from the actual data source linked in that article: > According to the 2014 NYC Housing and Vacancy Survey, there are about 27,000 rent controlled apartments vs. about 1,030,000 rent stabilized apartments. Like you say, rent control is very different than rent stabilization. Rent control limits the actual rent. Rent stabilization limits the annual rent increase. Rent stabilization doesn't really account for extra stickiness in the housing market (in other words, it doesn't meaningfully decrease housing supply). Rent control does but again, since there are so few of those it's basically a non-factor.

spikels 9y ago

6,200 units on Airbnb in city of 3.4 million homes. Airbnb is also rounding error. If you are concerned about affordability, the focus should be almost entirely on barriers to housing development.

busterarm 9y ago
Huh? There's over 30,000 AirBNB listings in NYC.