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DelTeaz t1_jc9k6lb wrote

Reply to comment by P0stNutClarity in Not Even This City Councilman Can Find an Apartment in New York City by CactusBoyScout

Is rent stabilized housing not welfare?

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theageofnow t1_jcijs56 wrote

No. There is no funding mechanism. Is it a “market distortion”? By limiting rent increases, surely, yes, but it’s not subsidized by the state or the city or federal government or anyone else. Also rent stabilized does not necessarily mean that the maximum legal rent is less than the market rate rent. There are many RS apartments whose rent is close to market rate (on average, they’re well below).

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