Posted by Yvoone Mak on May 06, 1997 at 01:32:46:
In Reply to: Re: Sunday NY Time Magazine Article posted by joseph on May 05, 1997 at 17:22:28:
Although the rent laws WERE "Deleterious" toward builders and developers during that time period, the current demand for rental apartments far exceed the supply. I do not believe that current rent regulations would deter developers from creating more apartments. It is the zoning regulations. As stated in the article, the city is under going re-zoning effort of light industrial areas to residential. Current Rent Regulations currently only protect a fixed number of apartments. Has this number magically increased in the past 10 years? I think not. Because if it did, you would not see the numerous Luxury Apartment Buildings that are currently being built around the city.
Rent Regulations help preserve the neighborhoods by enabling individuals to co-exist regardless of their income. It is very dangerous to believe that the increase in rents would be beneficial for everyone. Our economy in New York City thrives because of the diverse incomes of our residents. The majority of the "Spenders" spend a great majority of the income into the goods and services IN NEW YORK CITY. If rents were to be increased, there would be a major shift in how residents spend their incomes. It would create a ripple effect that would be felt not only by the affected tenants but the businesses that they patronize.
For a majority of the Landlords in New York City, TOTAL DE-REGULATION would be a BONUS CHECK. If your landlord increased your rent, do you really think that he or she would provide you with more services? Other than the basic upkeep of his or her property?
How can we stand by and listen to advocates for the Landlords state that "IF THEY CAN'T AFFORD TO LIVE IN NY, THEN MAYBE THEY SHOULD LEAVE", tenants
should reply, "If you can't manage a dwelling economically, then why don't you invest you money in another investment"
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