Rent regulation provides an out-of-the-box solution for policymakers that is easy for voters to understand, simple to implement and affords short-term relief to low-income households who are fortunate enough to reside in the small segment of newly rent-controlled
The study focused onNew York Cityand looked at rent-controlled
housing units, public housing,Mitchell Lamahousing, and all other government-assisted or regulated housing.
In the longer run they can let rental units deteriorate at an accelerated rate, reducing the count of rent-controlled
buildings were 10 percent more likely to convert to condos or another legal form that allows for booting tenants.
markets, we have the famously rent-controlled
(and famously expensive!) cities of New York, Los Angeles and San Francisco.
But valuations of rent-controlled
units were significantly lower than non-controlled units, and evidence indicates that ownership investments in rent-controlled
units, including maintenance, upkeep and capital improvements, were lower than investments in non-controlled units.
Better yet, Sanders says, "It was a rent-controlled
pad!" In his view, the system of rent control established after World War II "helped make artistic effort in New York City a thing of glory." Time and again, Sanders drives home the point.
Both Stuyvesant Town and Peter Cooper Village, developed by MetLife in the 1940s as a home for the city's working class, contain a vast collection of rent-controlled
apartments that politicians say are sorely needed in a city whose residential market has fast become dominated by high priced luxury condos and rental units.
Tax decisions could directly affect the rights of New York City tenants to keep their rent-stabilized or rent-controlled
The charity warned that hundreds of people on low incomes in rent-controlled
properties are at risk next year due to the lapsing of laws passed nearly 20 years ago.
A pamphlet that he co-authored with George Stigler, "Roofs or Ceilings," leads off the argument against rationing of rent-controlled
apartments by the Office of Price Administration as follows: "The defects in our present method of rationing by landlords are obvious and weighty.
Classified ads in rent-controlled
cities show that very few moderately priced apartments are actually available.