Steven Wishnia: Abolishing Rent Regulation Would Be Stupid.
The following article was published by Gothamist on July 31, 2013.Why The Push To Abolish Rent Regulation Is Stupid And Irresponsible
by Steven Wishnia
Why What would happen if New York State repealed its rent-regulation laws? New York Times Magazine economics columnist and NPR Planet Money co-founder Adam Davidson thinks it might be a good idea. In his article in this week's magazine, "The Illusion of Control: How Rent Regulations Preserve the City We Know at the Expense of a More Affordable One," Davidson contends that rent control and rent stabilization should be ended because they create a bifurcated market in which longtime tenants hardly ever move, and people seeking apartments compete to pay high unregulated rents. Most people who live in rent-stabilized apartments are above the poverty level, he says, and the poor could be protected more efficiently by giving them housing subsidies. These arguments, which are common among critics of rent controls, are utterly clue…
by Steven Wishnia
Why What would happen if New York State repealed its rent-regulation laws? New York Times Magazine economics columnist and NPR Planet Money co-founder Adam Davidson thinks it might be a good idea. In his article in this week's magazine, "The Illusion of Control: How Rent Regulations Preserve the City We Know at the Expense of a More Affordable One," Davidson contends that rent control and rent stabilization should be ended because they create a bifurcated market in which longtime tenants hardly ever move, and people seeking apartments compete to pay high unregulated rents. Most people who live in rent-stabilized apartments are above the poverty level, he says, and the poor could be protected more efficiently by giving them housing subsidies. These arguments, which are common among critics of rent controls, are utterly clue…
