4 ms·
It'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 i
by i_am_proteus 8y ago
It'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 8y 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.