Eliminating rent control wouldn't do much to lower rents given the relatively small numbers of units. They should definitely end it going forward, though.
Getting rid of rent stabilization, which is roughly half of all rental units in NYC IIRC, would have a huge effect, both positive and negative.
My prediction is that after a few years of adjustment following its end, the average paid rent would be about the same but the average advertised rent would be much lower.
All renters would equally feel the misery of rising rents, so I'd expect the political landscape would be very different with regards to feelings towards building more housing.
Getting rid of rent stabilization, which is roughly half of all rental units in NYC IIRC, would have a huge effect, both positive and negative.
My prediction is that after a few years of adjustment following its end, the average paid rent would be about the same but the average advertised rent would be much lower.
All renters would equally feel the misery of rising rents, so I'd expect the political landscape would be very different with regards to feelings towards building more housing.
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