How Rent Control Drives Out Affordable Housing

Re:How Rent Control Drives Out Affordable Housing by jason on Tuesday December 30, 2008 @04:15PM (#414688)

I have a vagrant living in my NYC apt building that pays $75 a month in rent and eats out of the garbage. He has no electricity or running water. When he opens the door to his apt in the summer the rest of the building gags. There are two other units that pay $75 dollars; a nice old couple and a loony chain smoker with bad BO.

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Re:How Rent Control Drives Out Affordable Housing by calambrac on Tuesday December 30, 2008 @05:34PM (#414768)

At a 7.5% annual increase from 1971, they would have originally been paying just over $5/month (that's about $25.34 in today's dollars). I'm not an expert in NYC rent prices in the early 70's, but that seems absurdly low. Maybe it's that cheap for some other reason?

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Re:How Rent Control Drives Out Affordable Housing by jason on Tuesday December 30, 2008 @08:53PM (#414964)

The rent amount is gossip from the super. The other stuff is first hand, and probably adds a little "control" to my rent as well, but believe me not that much.

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