Just another reason rents are high - Reader comments at The New York Sun

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Reader comment on:
Manhattan Housing Cycle Turns Toward Rentals

Submitted by Jason Pappas, Dec 1, 2006 08:03

It's sad that the government requires that 20% of new rental units are at controlled-rents. This means that the developer has to earn his profit from the remaining 80%, which pushes up rental prices to until 80% of the units justify the full cost. As a consequence all housing is bit up in the process and rents are 20% hirer than they would have been for everyone. By helping a handful, the vast majority of renters through out the city have to pay more.

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Other reader comments on this article

Comment	By	Date
It's sad that the government requires that 20% of new rental units are at controlled-rents. This means that the developer...	Jason Pappas	Dec 1, 2006 08:03
The government does not always require that 20% of new rental units are controlled. However, if a developer wants zoning... [MORE]	Jabari Henderson-Brown	Dec 4, 2006 12:13
I'm aware that the means of saddling developers with "below market rent apartments" takes the form of a zoning restriction... [MORE]	Jason Pappas	Dec 4, 2006 13:32
There is certainly a problem with the housing supply, but there is also increasing demand. People are coming to NYC... [MORE]	Jabari Henderson-Brown	Dec 4, 2006 15:38
The high price isn't labor, land, or demand; it's regulation. If the height of buildings is restricted, as you believe... [MORE]	Jason Pappas	Dec 4, 2006 16:47
Actually, a number of third world cities have very little in the way of regulation of housing stock. They also... [MORE]	Justin	Feb 2, 2007 16:14