6-12-19: STOP RENT CONTROL IN UPSTATE NEW YORK -- PLEASE READ! Rochester Chapter

June 10, 2019

From Joseph F. Rowley, Jr., RAC NYSCAR Governmental Affairs Chair:

Below is an email with a link to our Legislature and Senate.  We have only 4 days (June 14) until a vote.  Please help to stop rent control in Upstate New York.  If New York City wants rent control, let them have it.  We don't want this to happen here as it will greatly impact development in our region.  Read more below.

 GOVERNMENTAL AFFAIRS
Act Now: Oppose Burdensome Rent Restrictions! 

The New York State Legislature is poised to enact legislation expanding rent controls and limitations on evictions. Contact your state legislators today and urge them to oppose this misguided legislation.

EMAIL YOUR LEGISLATORS NOW

One of the most harmful effects of rent control is the downward pressure placed on development. According to a survey of the American Economic Association economists, 93% agreed that rent control has a negative effect on development.

When rent control is implemented, building development tends to move to more appealing cities. This leaves rent controlled areas with a stagnant, or more likely, decreasing housing stock. And with less supply, the cost goes up. The impact of less development goes beyond the quantity of available housing. 

Similarly, the limitations that S2892A/A5030A would put on evictions will make residential real estate a less attractive investment by lowering the value of properties and increasing the risk to the owner. De-incentivizing development will only serve to exacerbate the affordable housing crisis by halting the growth of new housing and reducing the quality of existing housing.

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