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Thank You, John Tierney

Posted by Provost on July 19, 2001 at 19:42:14:

In Reply to: Tierney redux $25K buyout posted by SamE on July 19, 2001 at 11:29:32:

I admire John Tierney as he is one of the only writers for the New York Times who is intelligent and bold enough to present good ideas, even when they go against the liberal orthodoxy of that newspaper.

For those of you who missed the point, re-read Tierney's article. Rent stabilization laws encourage thousands to hold onto cheap rent stabilized apartments, long after they no longer need them. These are apartments that should be on the market, available to you and me. Rent stabilization results in low rent for some long-term tenants but vastly inflated rents for the rest of us. That's why cities with NO rent controls (indeed, most of the rest of the country) have lower priced housing than New York. Abolishing rent stabilization/control is a tenant issue of primary importance.

Thank you, John Tierney, for reminding us of this.

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