For Some Reason, New York's Rent Regulations Don't Seem To Be Keeping Rents Low

New York City has one of the most expensive housing markets in the country among large cities, and maybe even the most expensive by some measures. By contrast to most other parts of the country, the majority of housing units here are rented rather than owner-occupied. Latest data from Zillow.com gives a city-wide average rent (across all apartment sizes and types) of $3650. In Manhattan, according to this New York Post piece from August 12 (citing data from the Corcoran brokerage firm) the average rent has hit $6,655 per month. According to the politicians in power, the reason for these...