New York City's decision to increase rents for tenants living in the city’s roughly 1 million rent-stabilized apartments by at least 3.25% is sparking criticism from the mayor of a "broken" housing system as multifamily developers and investors across the country pause or scale back projects in markets with strict rent control laws.
Tenants of New York’s Rent-Stabilized Apartments To See Rents Rise at Least 3.25%, Sparking Criticism of System
Move Comes With Residents, Owners Across the Country Grappling With High Inflation
By Andria Cheng
CoStar NewsJune 22, 2022 | 10:58 P.M.
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