Keating & Salins both provided an in depth analysis of rent control and the numerous controversies involved with it, from the point of view of both an owner and a tenant. A sentiment of owners that both readings exuded was that they are often dissatisfied with the control of the rent that they can receive. Keating described some methods owners have employed to deal with this issue. The “black market” of renting was a component I found particularly shocking. It involves forcing tenants to pay extra rent off the books, and is only possible because many tenants know they can’t find another affordable place to live.

Salins took the stance that in order to revive the Housing Market of NYC, regulations must decrease. He acknowledges that less incentivizing owners of apartments to rent, by lowering their potential income by doing so, stalls the housing market. Owners might leave the market all together, and even potentially knock over the buildings completely, to build non-regulated living spaces instead. It’s sad to think this is the reason our old housing isn’t being updated, and improving the lifestyles of our citizens.

 

We also took a look at statistics of housing in NYC. This basically compared regulated and market rate rented properties. I would say the overall takeaway from this document was how successful regulated rent has been at provided the opportunity for minorities to be able to rent and live in neighborhoods where they may not be able to otherwise. Table F does the best job of displaying this. For example, in Core Manhattan, 25% less white people occupy the regulated apartments, as opposed to market rate apartments.