The Issue: Whether rent regulations truly help the middle class and poor find affordable places to live.
“The Apartment Complex” got it exactly wrong (Editorial, July 10). Rent regulation is the result of a housing shortage, not the cause.
Tenant protections were created to give more New Yorkers homes they can afford. Even though the median income of rent-stabilized households is a mere $37,000, protections have been systematically gutted by the Real Estate Board of New York and Mayor Bloomberg’s landlord pals.
The senseless subsidies that The Post should be seething about are the millions in tax-breaks for the luxury condos of wealthy New Yorkers and non-residents. Those giveaways to developers are often funded by tax dollars from New York’s working families — the people hit hardest by the huge increases for rent-stabilized apartments, adopted by Bloomberg’s rent board.
Our next mayor should support stronger rent regulations and create more affordable housing.