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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.

Note: Comments are screened, and in some cases edited, before posting. We reserve the right to reject anything we find objectionable.

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

Comment on Manhattan Housing Cycle Turns Toward Rentals

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