Exactly my point.
Michael
On Thu, 8 Jun 2000, Doug Henwood wrote:
> Michael Pollak wrote:
>
> >This is a fair cop -- rent control makes a privileged class out of people
> >out of people who got here first, a kind of housing seniority system.
> >But that's got nothing to do with Krugman's argument that it causes the
> >housing shortage and high rents.
>
> New construction in NYC is exempt from rent regulation unless the
> developer gets tax breaks. And apartments renting for >$2,000 are
> exempt from regulation. So that part of PK's analysis doesn't work
> here.
>
> Doug
>
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com