Posted by MikeW on April 18, 1997 at 12:36:24:
In Reply to: Re: Please End Rent Regulation posted by bill on April 18, 1997 at 08:55:12:
: Sorry, Stuy town was built just after WWII. No rent regulations
: were imposed on buildings constructed after 1947 until 1969.
This is my point. Stuy Town was build as a commercial, for profit middle income development, without government funding. And it was done before regulation.
Under regulation, no one is going to either be able to build a development like that (because they can't empty enough land), and no one is going to want to (because of the long term restrictions of rent regulation, and other red tape). Because of this, no new large scale private middle income rental housing is getting built in the city. In addition, the government doesn't have the money or inclination to build any more. So the existing housing stagnates, the market gets tighter and tighter.
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