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$280 Rent in Hell's Kitchen. Abolish Control?

Someone is paying $280/month for a Hell's Kitchen townhouse and the take is: abolish rent control. The logic is stunning. One person got an insane deal from a decades-old stabilized lease, therefore the policy protecting millions of working-class New Yorkers from being immediately priced into the street should be scrapped. This is the whole playbook. Find one weird edge case, use it to justify gutting the protection entirely. Never ask what happens to the other 99% when the floor disappears.
Nick Garber @nick_garber
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x.com Culture Economy

One outlier rent-stabilized lease being used as cover to call for abolishing the policy that keeps New York livable for anyone not making finance money.

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x.com