Comptroller Mark Levine blasts NY rent-stablized policies for housing crisis: ‘It’s outrageous’

Source: New York Post

New York City Comptroller Mark Levine blasted state and Big Apple rent policies for contributing to the city’s affordable housing crisis. Levine complained that laws governing New York’s 1 million rent-stabilized units make it difficult for landlords to renovate apartments and put them back on the market because they can’t recoup costs with rental increases. The result: a recent report found that a staggering 57,000 rent units sat vacant across the five boroughs last year.