Do those case studies include the case for expropriating landlords that don’t keep their buildings to code?
Massive building sprees don’t bring prices down, they bring favelisation.
If the effect of this policies is that housing prices tumble, and there’s potentially more housing stock on the market for people to buy (and no incentive for buying to let since rent freezes makes it unprofitable), this seems like a good effect
Except NYC has laws making it difficult to do. A 2019 law they passed limits the amount a unit can have its rent increased in the case of a capital improvement at a small fraction of the capital cost. Now that interest rates are higher land lords are forced to keep units vacant, since theyll lose money taking a loan to get units up to code.
> 2019 law they passed limits the amount a unit can have its rent increased in the case of a capital improvement at a small fraction of the capital cost
Source? This sounds like it only applies to stabilised apartments.
> Now that interest rates are higher land lords are forced to keep units vacant
Rental vacancies are similar to what they were in 2019 [1].
Massive building sprees don’t bring prices down, they bring favelisation.
If the effect of this policies is that housing prices tumble, and there’s potentially more housing stock on the market for people to buy (and no incentive for buying to let since rent freezes makes it unprofitable), this seems like a good effect