According to the National Low Income Housing Coalition, Manhattan has a bigger share of renters compared to central London and most cities all over the world. It has about 77% of its population renting instead of buying and owning their dwellings. In a post in the guardian.com, it was reported that rent control measures that started out in 1943 with the longest one in the United States are now only applicable to more than 38,000 apartments out of 2 million housing units in the city. This prompted New York Mayor Bill de Blasio to say that he wants rent control to continue and flourish because it would mean more affordable housing. He is leading efforts for a $6.7 billion dollar program that would help promote and support cheap housing for the middle class and those earning low wages.
In the same post, New York City Planning Commission Chairman Carl Weisbrod said, "Rent regulation is essential for the future of the city, for its economic goals, for social equality to make a city attractive and available for all, rich, poor and middle class." He also added that the program will make the Big Apple an exciting place to live in and that there won't be a huge gap between the rich and the poor.
Not everyone though in the city is happy about the move. In a post in reason.com, Joseph Strasburg who heads the Rent Stabilization Association that has over 25,000 landlord members said, "The rent freeze is an unconscionable, politically driven decision to carry out de Blasio's campaign promise of two years ago. A rent freeze on the surface may sound pro-tenant, but the reality is landlords will now have to forgo repairing, maintaining and preserving their apartments, which will trigger the deterioration of quality, affordable housing de Blasio pretends to care about."
