The push to continue rent regulation is fueled by far more populist rhetoric than economic reason. As a corrective, a new report by the Citizens Budget Commission reveals some startling facts about the current system.
The CBC today released a report on rent regulation in New York City, a system that governs more than one million housing units representing more than half the City's private rental market and one-third of the total housing stock.
In New York City more than one million housing units, representing more than half the private rental market and one‐third the total housing stock, are subject to rent regulation. This scale of regulation is unique among American cities and is highly controversial.
This report details nine important facts for the Legislature to keep in mind as rent laws are considered for modification. CBC believes they should be cautious about initiatives to extend the reach of rent regulation.
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