Why rent stabilization will likely never end in New York

Evidence is mounting that if the “housing emergency” used to justify rent control should end, politicians would find another rationale. New York law caps rents to prevent a tight housing market from pushing them up, but provides that the limit would be eliminated if vacancies rise because rents would fall on their own — as is happening now. But Mayor Bill de Blasio said this week that if the vacancy rate surpasses the 5 percent

source https://therealdeal.com/2020/08/20/why-rent-stabilization-will-never-end-in-new-york/