Could Rent Control Die by Decade’s End?
About those rent–controlled apartments. Beyond the sad story of peeling paint and killer court fees, what really caught the Observer‘s roving pink eye was a chart from the Census Bureau listing the number of rent-controlled apartments since 1987:
2002: 59,324 [Numbers jumped due to a reevalutation following the 2000 census.]
At this rate, as our handy graph shows, rent-controlled apartments will be gone by the end of the decade. Unlike rent stabilization, where rents go up every year at the discretion of the Rent Guidelines Board, rent-controlled apartments have relatively stagnant rents and are much harder to deregulate. As the Post macabrely suggests, the decline in the number of rent-controlled apartments in the city is largely the result of the death of the apartments’ aging occupants, like the 97-year-old Magnus Saethre.