Good News: New Rent Increase Percentages for Rent Stabilized Apts Approved (renters, insurance)

[hilltopjay]

Just approved:

4.00% increase for a 1 year renewal

7.75% increase for a 2 year renewal

[queenofny26]

damn

[bluedog2]

LOL. Good news for you . We'll see what the renters think.

[BinxBolling]

I am curious, what bad thing would happen if the increase were less?

[nycangel]

How much was the rent increase last year?

[hilltopjay]

Originally Posted by nycangel

How much was the rent increase last year?

2% for a 1 year renewal and 4% for a 2 year renewal.

[Chava61]

Originally Posted by hilltopjay

2% for a 1 year renewal and 4% for a 2 year renewal.

So this is time it is even better for the owners although they are still not happy with the new increases.

[Kefir King]

But remember,
We are living in a country with no inflation, just ask Bernanke and Obama. Of course, they presume you don't pay rent or eat.

(They can point to a DVD player that went down in price,)

[mathjak107]

or drive a car or heat your house or pay medical insurance.

what skews everything is the fact that financing for everything is lower.

i am not sure either how they calculate housing costs since they made it that everyone rents and no one owns. twhen homes were soaring they took out buying and converted to some method where we all rent regardless.

[Kefir King]

i am not sure either how they calculate housing costs

The same way they calculate everything else, to show falsely that there is no inflation. As odious as Nixon was, at least his administration admitted to STAGFLATION when it was staring us in the face.