[shrinkermd]

Simply the best magazine regarding big cities today!

[secretagent]

Good article. Hits all the utilitarian points for a free market in housing.

[tcostell]

I don't think there is an economics curriculum in the coutry which doesn't include a discussion of the failure of the New York City Rent control system. It's literally the textbook micro-economic example of the argument for free markets. Where has this guy been living, on the moon?

[firebrand]

Malanga, like all well-off people who do not have regulated apartments, trots out the favorite myths once again: it's those wealthy cheaters who are wrecking life for all of us.

In truth, wealthy tenants in rent-regulated apartments are a tiny minority, as are cheaters. The vast majority are honest hardworking people whose lives would be thrown into chaos were they to be forced to move from neighborhoods and buildings where they have lived for decades, and yank their kids into a different school.

At least Malanga mentions all the right reasons that more housing is not built. But it has nothing at all to do with rent regulation, since new buildings are not regulated.

Moreover, the simple rules of supply and demand do not work in NYC, where there is a constant stream of newcomers from out of town eager to bring all the rents up to where market rents are now, should rent regulations cease. The idea of any rents coming down, to NY'ers who've been around for a while, is preposterous.

All envy sucks. Envy of the poor by the rich sucks the chrome off a ten-ton diesel.

[Bob J]

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[jackbob]

Very good discussion - all of you. The significant question as I see it, is not raised in the article or discussion. Is it a good to impede progress, by manipulating the law of supply and demand, so as to protect longtime neighborhood renters from being forced to move and change their children's schools, due to increased rents?