Powerful real estate barons successfully exercised their pecuniary power to get the legal rent restraints repealed in 1997 through the state legislature, with a Republican Senate and governor, and a Democratic Assembly. In fact, tycoons making multimillion dollars annually were reported to have paid only a pittance in rent-controlled luxury before the law changed in 1997. Outer boroughs and suburbs are still a bargain in comparison but there, too, the cost is spiraling up unchecked. Well, there are no handy-dandy panaceas and magic wands. They are not available to new tenants.
Landlords are free to charge whatever the market bears.
Mir space station is the limit. Powerful real estate barons successfully exercised their pecuniary power to get the legal rent restraints repealed in 1997 through the state legislature, with a Republican Senate and governor, and a Democratic Assembly. Expected benefit, they argued, would be additional construction and more apartments at reasonable rents. If you can't afford to sacrifice little Seema or Sunil's ivy-league college tuition for rent, don't bother looking. A number of buildings in the city have been, and are being built with state and federal subsidies provided a percentage of units are made available to people of modest means, up to 80 percent of the median income of the area.