New York has the highest rents in America, and there are always fights over the city’s rent control laws that prevent landlord owners from raising rents on 70% of the city’s units. I weigh in below.
How do many of those who have commented suppose you pay New York market priced rents while working at Duane Reader or Barnes and Noble? Those who celebrate the free market system fail to see or note its abuses–possibly because having experienced the conditions put forth by slum lords, the city years ago take wise action to curb a cavalier, laissez faire market appproach and collectively decided not feed flourishing rental profits off human suffering.
It seems a new generation who benefited from regulation now self-righteously deplore the laws that protect the costs of living space of those who clean the offices and sidewalks of the well to do. They would do well to remember that doing well sometimes means doing with less and helping others, building community. Profit is not supreme; people are.