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Old 08-02-2013, 03:08 PM
 
Location: Confines of the 101 Precinct
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....is it easier to find an affordable place to rent? It's a big debate on the NYC board, I would love for some of you guys to reply in the thread below...thanks

Can we just end rent control/stabilization already?
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Old 08-02-2013, 07:34 PM
miu
 
Location: MA/NH
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I had a rent-controlled apartment in Cambridge in the mid to late '80's. IMO ending rent-control in cambridge, Boston and Brookline hurt the Boston Metro area. The majority of those apartments turned into cash cow condominiums for the landlords and hurt the general diversity of the area. I don't think that rent-control hurt the landlords, after all they were able to buy apartments buildings without any problems. Anyway, when rent-controlled was repealed those landlords made huge and obscenely high profits on condo sales and then the management fees. And imo, a much worse impact on the locals and the common folk than anything that the Wall Street tycoons are accused of doing.
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Old 08-02-2013, 09:01 PM
 
Location: Massachusetts
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People who should have been able to get rent controlled apartments in Cambridge and Boston, such as students and young working people starting out, could not get them as there were no income limitations like 40b and other subsidized and mixed income housing has today. I knew people making 6 figures in the 1990s living in their rent controlled apartment in Harvard Square that they had lived in since the 1970s. They were paying $180 to $250 a month. Some of the rent controlled buildings deteriorated because the landlords did not have enough cash flow to maintain those buildings. If rent control was in place today I'm certain core areas would be in serious decline. I knew one person living in what is now one of the most desirable neighborhoods in Boston who bought $800 suits and another who paid an interior decorator to furnish their rent controlled apartment head to toe. I for one was not sorry to see rent control go when it did, because of these reasons.
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Old 08-03-2013, 10:38 AM
 
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Agreed. My dad did a lot of renovation contracting in the South End in the mid 80's and into the 90's (when I was still a tint speck of a tot), and he often commented on the run-down conditions of what were once rent-controlled brownstone apartments. There were people on fix income, modest income, or even no-income living in these places, and the conditions were horrendous because the landlords had no incentive or cash flow to do any upgrading...nor did their tenants demand any be done.

The posh areas like the South End, portions of the Backbay and other places in and around Boston would never be what they are today if rent-control was still around. It's bad for these people because they were all shuffled out of the city, or into housing complexes on the fringe of the city.
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