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Re: vacancy decontrol

Posted by David on March 28, 1997 at 17:48:48:

In Reply to: vacancy decontrol 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!

: Thank you,

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