NYC Rent Freeze

The article analyzes the potential effects of a proposed four-year rent freeze on NYC’s 1 million rent stabilized apartments, already weakened by the 2019 Housing Stability and Tenant Protection Act, which cut property values by up to 60% and discouraged investment. Using a building that is outside of Manhattan as an example, it shows how rising costs and debt could push landlords into losses, leading to neglected maintenance, more vacancies.

While tenants could save about $3,085 over four years, examples from Berlin and San Francisco suggest freezes can reduce supply and worsen long-term affordability.