Costs for rent-stabilized landlords outpaced inflation, board says
Prices for New York City’s rent-stabilized landlords have outpaced general inflation, according to the Rent Guidelines Board. The price of a basket of goods for rent-stabilized landlords rose 5.3 percent in the last year, more than the 2.7 percent inflation economists say the country experienced, not including housing costs. In the past five years, prices for those landlords have risen 31 percent, according to the board’s most recent report. Energy and insurance saw the highest inflation. Rents for stabilized units would need to increase by an estimated 3.4 to 4.5 percent to keep owners’ net operating income unchanged. The numbers […]
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