White renters in rent-protected apartments benefited more than any other race group, with a discount of 36% from market rates
Analysis hints at a policy conundrum lawmakers face as they consider changes to rules expiring June 15The biggest beneficiaries of rent regulation in New York aren’t low-income tenants across New York City, but more affluent, white residents of Manhattan, an analysis by The Wall Street Journal found.
These Manhattan renters get a steep discount from market rents in the same neighborhood: about $1,000 a month per apartment, up to nearly $2,000 a month in Manhattan’s Upper West Side. In many less affluent working-class neighborhoods, regulated rents are no different than, or only slightly below, market rate rents in the same...
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