New York’s Insane Rent-Reform Package Will Make the Housing Market Worse for Everyone

(Lucas Jackson / Reuters)
The plan will vastly increase the cost of city housing and lead to the deterioration of thousands of units.

NRPLUS MEMBER ARTICLE T he New York State Legislature will vote this week on a package of reforms to existing rent-control and tenant-protection laws. Governor Andrew Cuomo has promised to sign whatever the Legislature delivers to his desk. The proposal at issue is disastrous; in a misguided effort to solve New York City’s affordable-housing crisis, Democrats in Albany are threatening to seriously damage the city’s housing supply and the quality of existing buildings.

Lawmakers have essentially decided to further intensify the city’s already dense tangle of regulations and restrictions on landlords. The reforms make it much harder to raise rents on rent-controlled (22,000 units in

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