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It is essentially never how it works. Why would you actively regulate something so people can't move? It is when you abandon rent control that the systems becom
by njepa 7y ago
It is essentially never how it works. Why would you actively regulate something so people can't move? It is when you abandon rent control that the systems become incompatible and people can't move.
- i_am_proteus 7y agoIt's not "so people can't move," inflexibility is a side effect of rent control. The "I can't move because I'm locked into a rent-stabilized lease" phenomenon is real, painfully so in NYC. It's also a problem that's essentially invisible to anyone who bought into the market at a good price, or is wealthy enough to pay market-rate rents. But for the rest of us, it hurts.
- njepa 7y agoAs far as I can tell that is exactly because they abandoned rent stabilization making that market incompatible as it now only applies to certain units and triggers rent increases when you move.