Negotiations are expected to resume today in a battle over the city’s rent control laws which expired at midnight
The State Senate rejected a bill to extend rent regulations for two days to allow negotiations to continue.
It fell apart thanks to a combination of Republican legislators who oppose rent stabilization and Democrats who want to strengthen the current laws.
That means more than one million tenants are technically no longer covered by the city’s rent control laws.
Governor Andrew Cuomo urged residents not to panic since the expiration shouldn’t have an immediate effect since most tenants are covered by their leases.
The governor said yesterday he will keep lawmakers in Albany until a deal is reached to extend rent laws.
Senate Republicans want a simple extension of the existing laws while Democrats, including Cuomo, want to strengthen them.
(Source: NY1)
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4 Responses
They would be better to scrap the whole rent control system (which hurts communities such as our own with many young families who pay a premium, which is subdizing older families who have been in the apartments for decades). Instead they should liberalize zoning and other rules that impair construction, and get more apartments, so rents will start to fall. Rent control discourages new construction, which causes a housing shortage, which is why rents are so high. It’s a socialist-style solution that has failed, and is being adhered to religiously in spite of its failure.
akuperma, how many young families would actually move into those buildings? So what’s the difference to these young families if the ones in those buildings pay less via rent control?
Also, I’m sure there are many a kollel couple living in rent-controlled apartments, whatever neighborhood you might be in.
Zoning has been very much liberalized under Mr. Bloomberg’s reign; have you seen the new “condo” (eyesores, in many cases) that have gone up in the past few years? But they’re typically being sold as condos, not rented as apartments, from what I’ve read.
i say get rid of section 8 first then the price of rentals will go down.
“get rid of section 8 first then the price of rentals will go down.”
Highly unlikely. The effect instead is that the number of homeless Jews will go up.