>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