the for units rises sharply

jt the that new construction

lit *uch units has been legally restricted
to conserve resources, as during wartime.
Absent conditions, unconstrained

are the most efficient
and the only effective means of

an appropriate long-term bal-
ance of supply and demand in housing
markets.

The provides information

on the of rent controls on various

A 21-item bibliography is
included.

Reforming Residential

Eent Regulations

Commission, February 1991,
30pp.

for $2 postage and handling (free to

government agencies) from Citizens Budget
Commission, Inc., 36 West 44th Street, Suite

316,'New York, NY 10036.

This report identifies, assesses, and

recommendations for reforming
,New York City's rent regulations and
increase in property tax
from the

•> - t tp ' *(" TT"^

* gradual

i jtt^'ttfefcte^

The report discusses
for controls: (1)

units occupied by
holdb, (2) decontrol units
high rents, (3) decontrol 35

they become vacant. If
immediately, these

between 372,000 and 446,000 units—
a significant portion of New York City's
housing—and substantial new

taxable rental income ($598 to $745
million). Implementation of the
would require that the city create defini-
tions of income categories and require
households to be certified as lower
income to be eligible to retain rent
protection.

The first step in achieving the of
eliminating rent controls is to remove
rent controls for households who do not
require subsidy. Households that require
subsidy should receive it from govern-
ments, not from landlords.

Other city actions, such as overly re-
strictive zoning and building codes also
should be gradually relaxed. Addition-
ally, the authors recommend that the city
work with the construction industry and
labor unions to reduce construction costs
and constraints.

Fourteen tables, forty-one end notes, and
four appendixes are provided.