Tuesday, June 23, 2009

You Must Pay! Guidelines Borad Approves 3% (1 Year) and 6% (2 Year) Stabilized Increases

It's official, despite the recession, the rent guidelines board has approved 3% increases for 1 year leases and 6% for 2 year leases for rent stabilized tenants in NYC. The ruling effects nearly One Million tenants. Despite my liberal views, all I can say is cry me a river! If you don't like it, just step out and get yourself a market rate apartment! Despite the rumor from the 80's that we are a capitalist society, somehow New York has perpetuated the backwards-assed concept that a number of us who have lived here for a long time and have little desire to move up, should have the privilege of state-sponsored, below market, price fixing. The result, the rest of us subsidize the lucky Million, and pay more. What a system!
I guess that qualifies as a rant.
More: Renters: It's Official You will Pay More (WNBC)

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