Number of rent regulated apartments in NYC

I think the number is actually closer to 1.6 million (can't remember where I read that). The interesting thing is the rent regulation laws actually have to be voted back in every 2 years, and for decades, it has been pretty much automatic. The renters in NY are quick to organize and very, very powerful. I can't imagine that barring Federal interference, these laws ever go away. Look to Boston as an example of what happens when there is wholesale de-regulation over time - it's not quite as dramatic an impact on the market as one would expect, although if it were to happen today in NYC, it would be a wild ride.

Also, remember that those 1.2 (or 1.6) million units are spread across the 5 boros.

> The renters in NY are quick to organize and very, very powerful.

And so are the unions... who buy the politicians to keep union employment high in the public sector, while they lose jobs in the private sector (because they kill them).

Its why pretty much everything in this town has always been more expensive. Housing, insurance, construction, food, you name it.

And then we eat it in taxes to pay for the union contracts.

Yes, housing is expensive. But are you aware of just how much more expensive it is to start a business here?

The city/state got away with it over the past few decades because Wall Street paid for a lot of it (and it almost bankrupted us in the 70s). But that gravy train is over...