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Comment by zip1234 | Hacker News Reader

I'm with you on removing tax incentives like that, but do not think requiring affordable housing is very useful.

I have a friend that lived in a rent controlled unit that did not have hot water for almost an entire year. Requiring 'affordable' units creates really strange incentives. New York should just fix the root cause: zoning.

Upzone the entire city or just remove zoning restrictions everywhere.

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I don't know NYC rent control policies but my experience with it in Berkeley was excellent. I negotiated down (in 2010) to $945/mo. After 5 years of rent controlled increases I was still paying less than $1,050/mo. In the same time, the identical next door apartment (new tenant) rented for $2150. When I left, my unit was rented out for $2,500/mo. Professional management company, owner lived on other side of the country, old but everything worked and they always fixed anything that came up. I'm realizing now that you are talking about affordable housing while this was open market but wanted to comment on the power and usefulness of rent control.

It's very easy to support a policy that you benefit from. The property owner effectively missing out on 1,500 a month probably feels a little differently. People who have trouble finding affordable housing there, which may be exacerbated by rent control making being a landlord there less profitable and popular, may also feel differently.

I would support a policy that gave people with my surname $1,500 a month - but that doesn't mean it's a good policy.

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