The proposal is an attempt to seize momentum on one of the campaign’s top issues — the housing crisis — and could affect nearly one million homes, or about 40 percent of the city’s rental market.
It’s also part of a continuing attack on the front-runner in the race, Assemblyman Zohran Mamdani, who pays $2,300 a month for a rent-stabilized one-bedroom apartment in Astoria, Queens.
All apartments should be rented stabilized. Any of that aren’t, the landlord should have to pay 50% of the rent as a tax to the city.
I know a landlord in a longtime rent stabilized area who would happily pay 50% to the city if he could charge market rates. Some long term tenants are paying a small fraction of the true market rates
Rent control is bad public policy because it makes new tenants subsidize the ones who have lived there longer.
Subsidize what? Profit?
Rent control causes newer tenants (read: young people) to pay higher rates than older tenants ( old people) because the old tenants are shielded from market rates.
It’s a policy which enriches old people who never move at the expense of new renters.
Nah. That’s false and you’re a liar.
LOL sorry facts hurt your feelings.