a. If rents for rent-stabilized apartments do not increase, how do you think the market for rental units in New York City will develop?
b. Are rent ceilings in New York City helpful to the middle class? Why or why not?
New York's Rent Guidelines Board voted for a rent increase of up to 7.25 percent over the next two years on rent-stabilized apartments. A survey reported that last year costs for the owners of rentstabilized buildings rose by 7.8 percent. In addition there is growing concern about the ability of the middle class to afford to live in New York City.