The Rent Guidelines Board gave preliminary approval Monday night to a sharp rent hike for the city's 1 million stabilized tenants — raising one-year leases by up to 7%…. That provoked outraged cries from dozens of spectators at the Cooper Union auditorium who said people on fixed incomes had no way to pay for such an increase and stay in their homes. (Daily News, Tuesday)
Yes, New York still has rent control.
FEE Timely Classic
Roofs or Ceilings? The Current Housing Problem by Milton Friedman and George J. Stigler