Why is government still in the apartment business?
The late, lamented (by me) New York Sun preached against rent regulation from its first issue to its last. The Democrat-led Assembly has just passed strong anti-landlord legislation, bringing rent regulation back in a big way. There's a good chance that the Urstadt law will be repealed and landlords will be at the mercy of Christine Quinn's political ambitions.
Hasn't this economic downturn taught us anything? New York government has long been corrupt, and now it's bankrupt. You don't want New York government running anything.The free, unregulated real estate market has worked just fine in almost every other city in the country.
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