In an act of pure legislative idiocy in the face of overwhelming consensus among economists against rent control, the New York State Assembly started the ball rolling to strengthen rent regulation. NY Times: The Democratic-led Assembly passed a broad package of legislation designed to restrain … [Read more...]
Could NY Democrats Revive Rent Control?
New York State's Assembly is now in Democratic control. On many legislators wish list is to end the vacancy decontrol provisions that allow landlords to remove a unit from rent control if a tenant moves out and the unit rents for more than $2,000 per month. (for those of you not in New York, … [Read more...]
The Moral Case Against Rent Control
In Market Urbanism's four part series on rent control, I avoided the topic of the morality of rent control, as I intended to address the economic issues and leave the morality to others. Thankfully, J. Brian Phillips of the Ad Hoc Committee for Property Rights is an expert on the subject. In his … [Read more...]
Retail Rent Control
Thanks to Bill Nelson for tipping me off to the article from The Villager (NYC): Retail rent control? A city councilmember planned to introduce a bill this week that will require small businesses and landlords to submit to arbitration in negotiating lease renewals if both parties can’t agree on a … [Read more...]
WSJ: Rent Control Is the Real New York Scandal
In case you didn't catch it last weekend, Eileen Norcross wrote an excellent piece on rent control in New York. She touches on Charlie Rangel's four rent control apartments scandal, some history of rent control in New York, the destructive results of rent control, vast inefficiencies caused by rent … [Read more...]
Rangel Now Only Hoards Three Rent Controlled Apartments
[flickr photo: aznatca68] Democratic Congressman Charlie Rangel has announced that he will vacate the rent controlled apartment he has been using as a campaign office. This apartment is just one of four rent controlled apartments he is hoarding in the Lenox Terrace apartment building in … [Read more...]
Congressman Rangel Legally Plunders $30,000/year in Four Rent Controlled Apartments
[update! Rangel Now Only Hoards Three Rent Controlled Apartments] In case you missed it, powerful New York Congressman Charlie Rangel has been hoarding four apartments in Harlem's Lenox Terrace. Coincidently (perhaps not so coincidently) Lennox Terrace is the same building where New York's … [Read more...]
Economakis Family Threatened by Friends of Rent Control
The Economakis family has been threatened my some members of the community who planned a protest tonight against their family using their own property as a home. See this truly despicable flyer calling friends of rent control to arms. [image from curbed] Here's Mr. Economakis' … [Read more...]