Where Will New York’s Working Poor Live?
By DMI Blog As the New York City Rent Guidelines Board (RGB) begins to debate how much more the millions of tenants who are protected by rent stabilization laws will be paying when leases come due next year, they will be factoring some interesting and conflicting data (see this article from last week’s Times). The RGB’s staff puts out a few reports each year to help inform the debate on how much rents should go up, and the Income and Affordability Study released last month reveals that while the NYC economy is strong, incomes among rent stabilized tenants are stagnating (i.e., the rich are getting richer and the poor are… you know the rest).
