ProPublica
The article is VERY LONG with great statistics, so this is just an excerpt.
New York Landlords Exploit Loophole to
Thanks to a 2003 state law, owners of rent-stabilized
apartments can arbitrarily boost rents to a legal maximum
that they set themselves. The tactic fosters gentrification,
eviction and homelessness.
apartments can arbitrarily boost rents to a legal maximum
that they set themselves. The tactic fosters gentrification,
eviction and homelessness.
