Posted by eric on March 28, 1997 at 11:32:33:
What does the rest of the country know that New York doesn't know,
that is, the free market works better than a controlled market?
We must have 100% vacancy decontrol now.
Do you know that are vacant apartments all over the city in modest
neighborhoods? The prior tenants' rents were so low, the landlords cannot
"afford" to rent the units. Vacancy decontrol will go a long way to
ease the housing shortage for working people.
Do you know that rent laws caused the rental shortage? In Westchester
County, perfectly decent rental rental buildings were converted to coops
because landlords could not make a profit, thanks to ETPA. Market rents
would be so much lower now without rent laws.
Its just outrageous that someone making $249,999/year can benfit from rent
control. Rent controls lower property values, which lower assessments, which lower
the property taxes municipalities recieve.
In modest minority neighborhoods, ETPA rents and market rents are about
the same, thus, these people are receiving no benefit from rent laws.
DHCR costs taxpayers $50M(?) per year?
I could go on and on. Rent control has been a disaster for New York.
Its time to get rid of it. However, the Soviet Union couldn't go from
communism to capitalism overnite, and neither can the New York rental
market. To mitigate the effects, implement vacancy decontrol, and
lower the income level downward significantly from $250,000!
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