“New York City’s Affordable Housing Bonanza for the Rich”

by Walter Olson on July 8, 2014

NYC’s rent control laws “disproportionately benefit the well-to-do, who are more likely than the poor to remain for decades in apartments that become increasingly underpriced as the years go by. … The 220 affordable apartments [in a new West Side development responsive to subsidy incentives] will be split up among households of four earning no less than $50,300 and no more than $193,000 per year —- or nearly four times New York City’s median household income.” [Jim Epstein, Reason]