I should add to that...I live in a rent stabilized building. Buildings over
a certain number of apts or units are rent stabilized by law. The Landlord
is prevented from raising rents past a certain percentage. The percentage
is determined by the State Housing Board. Both tenants and landlords get to
present their cases. My lease is preferential, which means I agree to pay a
lower amount than the market amount, and the landlord can raise it anywhere
between my agreed to amount and market upon renewal.
This law enables people who cannot afford to pay between $2000-$4000, the
ability to have an apartment. Otherwise we'd be homeless, even though many
of us are making over $75,000 a year.
If it weren't regulated to some extent, landlords would raise rents to
whatever they could get for them. Example? I was priced out of my old
neighborhood, because the rents weren't regulated, and a one-bedroom apt
with about 654 sq feet was going for $2000, and there was one that was
going for $1 Million in a newer nicer building. The working class and blue
collar were being booted out with rents going up $200-500 dollars a month.
The people being booted out were sanitation workers, teachers, civil
servants, retail clerks, nurses, medical assistants, gardeners, midwives,
while the people who got the new luxury apartments were students with rich
parents from other states/countries, techies from European countries,
entertainment (actors, etc), celebrity chefs, reality show stars.
Capitialism in its pure form often rewards the less necessary professions
to our society, because if given a choice, people will spend a $1000 for a
football game than to say ride a train to and from work.
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branchandroot
no subject
Date: 2017-06-16 05:20 pm (UTC)I should add to that...I live in a rent stabilized building. Buildings over a certain number of apts or units are rent stabilized by law. The Landlord is prevented from raising rents past a certain percentage. The percentage is determined by the State Housing Board. Both tenants and landlords get to present their cases. My lease is preferential, which means I agree to pay a lower amount than the market amount, and the landlord can raise it anywhere between my agreed to amount and market upon renewal.
This law enables people who cannot afford to pay between $2000-$4000, the ability to have an apartment. Otherwise we'd be homeless, even though many of us are making over $75,000 a year.
If it weren't regulated to some extent, landlords would raise rents to whatever they could get for them. Example? I was priced out of my old neighborhood, because the rents weren't regulated, and a one-bedroom apt with about 654 sq feet was going for $2000, and there was one that was going for $1 Million in a newer nicer building. The working class and blue collar were being booted out with rents going up $200-500 dollars a month.
The people being booted out were sanitation workers, teachers, civil servants, retail clerks, nurses, medical assistants, gardeners, midwives, while the people who got the new luxury apartments were students with rich parents from other states/countries, techies from European countries, entertainment (actors, etc), celebrity chefs, reality show stars.
Capitialism in its pure form often rewards the less necessary professions to our society, because if given a choice, people will spend a $1000 for a football game than to say ride a train to and from work.