Part One of this series was a refresher on the Microeconomics of Rent Control and touched on how it encourages hoarding Part Two discussed rent controls influence on the black market for apartments, rental property deterioration and housing discrimination. Here in Part Three, we will discuss how … [Read more...]
Rent Control Part 2: Black Market, Deterioration and Discrimination
With New York's new Governor's rent subsidized by his landlord and California debating the best ways to end rent control through Proposition 98, I thought it was a good opportunity to discuss the negative aspects of rent control.This post is the second in a four part series on the rent control. … [Read more...]
Rent Control Part 1: Microeconomics Lesson & Hoarding
This post has been released as the first in a four part series: Rent Control Part One: Microeconomics Lesson and Hoarding Rent Control Part Two: Black Market, Deterioration, and Discrimination Rent Control Part Three: Mobility, Regional Growth, Development, and Class Conflict Rent Control Part … [Read more...]
NY Gov. Patterson’s Rent-Stabilized Apartment in Harlem
NY Sun: Paterson Pays A Stabilized Rate of Rent The governor of New York pays about $1,250 a month for a two-bedroom, rent-stabilized apartment in central Harlem, even while owning a home upstate in Guilderland and having unfettered access to the 40-room Governor's Mansion in Albany.Governor … [Read more...]
Release Us From Rent Regulation
Curbed: Rent-Stabilzation War: Tenants Strike BackNew York Times: Questions of Rent Tactics by Private Equity Rent-regulated apartments account for 57 percent of the total in the Bronx, 42 percent of the apartments in Brooklyn, 59 percent in Manhattan, 43 percent in Queens and 15 percent of … [Read more...]
Abolition of Density Restrictions Would be Great for NYC In The Long Run
Tyler Cowen of Marginal Revolution asks a great question: How good would the abolition of zoning in New York City be? He argues that zoning restrictions prevent Manhattan from being a "forest of skyscrapers" such as Sao Paulo.Many of Manhattan's skyscrapers are much taller than typical Sao Paulo … [Read more...]