This year in NYC for the first time in my memory there might not be an increase in the monthly rent of rent stabilized apartments. This is great news for those who have fixed income and low to middle income who live in those rent stabilized apartments, not so great news for the owners of those apartment buildings. Many in the rent stabilized can barely afford the rent that they pay. Many of the owners of these building can barely afford to keep the buildings up. This is a situation were both sides have great arguments.
The city wants to have affordable housing so it needs rent stabilization as a large part of the program.
It can not afford to lose affordable housing stock. One would think that the city's government would give tax breaks, reduce water bills and other incentives as they do for developers of new housing.
They should do it because it the right thing to do. Even if they wouldn't lose one apartment with out breaks for the owners of these apartment buildings.
This would make it a win, win for everyone.
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