"Rent regulation is now a permanent feature of New York’s housing law, rather than one that expires periodically and needs to be renewed." (SAMUEL STEIN 2019) A big win for long term tenants, and an even bigger win for the low income residents. With the rise of gentrification more and more New York city residents are getting displaced, mainly due to rent hikes. Apartments that were once going for $300 in the late 80's are now up almost 1000%! Because of the huge increase of rent many residents were forced out of their homes in which they have lived in for more than a decade. This allowed landlords to rent out their units to tenants who were able to pay $2000 plus a month of rent. With the nine bills of housing laws passing the city will see a significant slowdown in gentrification. This point brings me to the title of this article "Tenants won this round." Will we see landlords and developers find a way around these rent/ housing laws? Will they come up with new strategies to displace their current residents to continue filling their buildings with wealthier residents?
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