Things That Sounded Crazy In 1993 Jan 17 2008
If landlords could double or triple the rent on vacant apartments, it would be a compelling incentive for them to try to drive current tenants out by any means necessary. (During the East Village's gentrification in the 1980's, my landlords neglected or cut off heat and hot water, called us late at night to tell us to leave, let crack addicts stay in warehoused apartments and rented storefronts to drug dealers.)
Under luxury decontrol, what would stop them from renting only to tenants who make more than $100,000 a year to get apartments permanently deregulated? Warehousing would burgeon as landlords kept apartments vacant for months waiting for a sucker to pay top market rent.