King Rat (gkr) wrote,
King Rat

Eco 200: rent control in New York City

(group) Do price controls keep the wealthy from obtaining more than the poor? One reason that local governments sometimes impose rent controls is precisely to prevent money prices from rationing scarce residential space. Do the controls succeed in doing this? How has it happened, do you suppose, that most of New York City's rent-controlled apartments are occupied by relatively wealthy people?

According to the 2002 New York City Housing and Vacancy survey (, the median income in rent-controlled apartments is $15,000/year and the average is $27,285. In rent-stabilized apartments, the median is $20,000/year and the mean is $30,832. These are not relatively wealthy people.

I haven't peeked at the answer guide yet, but I suspect this is not the answer for which they are looking.


  • Last post

    I don't plan to delete my LJ (I paid for permanent status, dammit), but this will be the last post. I don't plan to read it anymore, either…

  • Unemployed

    Turns out my insurance is cut off at midnight tonight, not the end of the month. In a way, that's a good thing. Now I'll move my appointment…

  • Home from the cruise, off to Sunnyvale

    A week off, but tomorrow I head to the home office for a week there.

  • Post a new comment


    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened