Rent control laws set a ceiling on rents and severely limit or prohibit property owners from raising rents. Rather than improving the availability of affordable housing, rent control laws exacerbate shortages, cause existing buildings to deteriorate and disproportionately benefit higher-income households. Forbes magazine lists as one of the 10 worst economic ideas of the 20th century.
Tag: rent control
Millionaires in rent-stabilized apartments?
A polo-playing multimillionaire who allegedly broke up Gov. Andrew Cuomo’s marriage, a former tobacco executive who once chaired an anti-tax organization and the head...
I can’t get no
One person, Arie Shashou, 77, thought just that. That was before Shashou received an eviction notice in March. Shashou’s $825-a-month rent-controlled apartment, and 17...
Portugal scraps rent control
But Portugal is scrapping its long-standing rent controls in one of the government's most radical economic and social reforms since the ailing country needed...
