VIDEO: Policy Breakfast on Reforming Rent Stabilization in New York City
Furman Center for Real Estate and Urban Policy (New York)
Close to 1 million apartments in New York City are subject to the state’s rent stabilization laws, which regulate how rents can rise. In June, 2019, those laws are set to expire. On November 29th, 2018 the NYU Furman Center hosted an event to bring experts together to explore ideas for reforming the rent laws.
The Furman Center’s Executive Director Jessica Yager presented some facts about rent stabilization, including outlining the present rent stabilization laws, trends of stabilized units in New York City, and reform proposals currently pending in Albany.
Following the presentation, a panel held a spirited debate over the effectiveness of the current system in protecting both landlords and tenants, and proposed their own ideas for rent reform. The discussion examined inequities within the rent stabilization laws, the difficulties in balancing tenant protection and the ability of owners to get a fair return, and the economics of rent regulation and its impact on addressing the affordable housing crisis.
NYU Furman Center Senior Policy Fellow Mark Wills moderated the panel, which included:
- Judith Goldiner, Attorney –in-Charge, The Legal Aid Society, Civil Law Reform Unit
- Betsy Mallow, Executive Deputy Commissioner and Chief Operating Officer, New York State Homes and Community Renewal
- Dr. Christopher J. Mayer, Co-Director, Paul Milstein Center for Real Estate, Columbia Business School
- Joseph Strasburg, President, Rent Stabilization Association