Destabilized Rents: The Impact of Vacancy Decontrol on Low-Income Communities
Thomas J. Waters, Victor Bach
Summary: More than a million low-income people (in households with incomes below twice the poverty line) live in rent-regulated housing, compared to a little over half a million in public and subsidized housing combined. Unfortunately, legal provisions for the deregulation of vacant units, known as vacancy decontrol, are undermining the effectiveness of rent regulation in promoting affordability. This report uses data from the 2008 New York City Housing and Vacancy Survey to examine recent shifts in the affordable rental stock and their relation to vacancy decontrol.
Issues: Affordable Housing