Post's Version of 'Rent' Complains about Cost
The Washington Post came up with a new code phrase for rent control â âreasonably priced housing.â
In an article bemoaning the potential âloss of middle-income housing â and peopleâ in Manhattanâs Stuyvesant Town, the November 12 Post tried to spin rents less than half the market rate as essential for an âeconomically calibrated life.â
Reporter Robin Shulman did a long feature on Stuyvesant and its huge towers with 11,232 apartments â 73 percent of which are rent-controlled. A typical three-bedroom apartment that actually rents for legitimate Manhattan rates goes for $3,833 or nearly $46,000 a year, reported Shulman. A rent-controlled place goes for $1,514 or about $28,000 less each year.
Rather than embracing the post-9/11 growth helping New York get back on its feet, Shulman wrote that âmiddle-class living in Manhattan is a careful balanceâ that includes little time off and shopping at thrift stores.
The thoroughly one-sided piece on ârent stabilizationâ included no statements from the new landlord, a company that bought the apartments for $5.4 billion, or from free-market groups explaining the many flaws in rent control. Studies have shown that rent control can lead to decreased maintenance and discourage new home construction.
Instead, the story included representatives from the Tenants Political Action Committee, a liberal think tank that advocates for affordable housing and tenants who, naturally, didnât want to pay more for rent. One tenant, whose rent wasnât controlled, even had the audacity to complain that he canât control the housing market. âThe fact that it can creep up with no upward bound â thatâs what I find most unsettling,â he said.
Shulman ended the piece by describing one of the tenant couples as âamong the people who help make New York unique.â The article told readers, âFor now, theyâd like to stay in Manhattan.â It didnât add that the couple expected to stay at less than 40 percent of the market rate.