Posted by Anonymous on April 30, 2001 at 13:37:37:
In Reply to: NYC RENT STABILIZATION BOARD MEETS TODAY posted by Ace on April 30, 2001 at 13:07:04:
This whole system makes me queasy. I was reading in the New York
Times how people feel that the rent increases are unfair. The idea
that someone's pursuit of a livelihood, or even pursuit of profit,
could be unfair in America is ridiculous
This whole system makes me queasy. I was reading in the New York
Times how people feel that the rent increases are unfair. The idea
that someone's pursuit of a livelihood, or even pursuit of profit,
could be unfair in America is ridiculous.
You all are able to say look at the profit the landlords made. You
don't consider the risks, losses, skills, and money that had to be
put up. If its so easy why don't we all do it?
Every economist points to New York City's rent control system as
ridiculous and opposed to all logic. What do you think would happen
if suddenly everyone's rent was deregulated?
Initially some rents would go up, not as many as you all think.
There might be a little bit of shuffling, but in the end landlords
don't make money by owning empty buildings. The entire thing would
stabalize, naturally, and this artificial bullsh*t wouldn't be
necessary.
Look at commercial space, which is unregulated. There have been many
times where commercial space in New York is so unvaluable that months
and months of rent have been waived in order to entice potential
tenants.
Under this system we limit all possible growth. Ask yourself,
besides pure philanthropy, what incentive does a developer have to
invest in an upcoming area if he or she knows that he cannot possibly
recoup the development costs because of limitations. It will keep
people in limited areas.
It will also discourage people from building up more. As a result
we'll be left with a continuing apartment shortage. The supply will
eventually meet the demand. If enough people wish to live in New
York then it will force more apartments to be built and will
stimulate the city and allow it to grow. But a system like this
simply makes no sense.
If you know about the history of rent control, you'd know it was a
post-WWII idea. It had it's use in it's time but has since outgrown
it's usefulness. Since then New York is the only city to retain a
rent control policy.
You all are able to say look at the profit the landlords made. You
don't consider the risks, losses, skills, and money that had to be
put up. If its so easy why don't we all do it?
Every economist points to New York City's rent control system as
ridiculous and opposed to all logic. What do you think would happen
if suddenly everyone's rent was deregulated?
Initially some rents would go up, not as many as you all think.
There might be a little bit of shuffling, but in the end landlords
don't make money by owning empty buildings. The entire thing would
stabalize, naturally, and this artificial bullsh*t wouldn't be
necessary.
Look at commercial space, which is unregulated. There have been many
times where commercial space in New York is so unvaluable that months
and months of rent have been waived in order to entice potential
tenants.
Under this system we limit all possible growth. Ask yourself,
besides pure philanthropy, what incentive does a developer have to
invest in an upcoming area if he or she knows that he cannot possibly
recoup the development costs because of limitations. It will keep
people in limited areas.
It will also discourage people from building up more. As a result
we'll be left with a continuing apartment shortage. The supply will
eventually meet the demand. If enough people wish to live in New
York then it will force more apartments to be built and will
stimulate the city and allow it to grow. But a system like this
simply makes no sense.
If you know about the history of rent control, you'd know it was a
post-WWII idea. It had it's use in it's time but has since outgrown
it's usefulness. Since then New York is the only city to retain a
rent control policy.
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