WASHINGTON, D.C. – The National Multifamily Housing Council (NMHC) filed an amicus brief on Friday, January 22, supporting a challenge to New York’s Rent Stabilization Law (RSL). NMHC asserts that the rent control regulations are counterproductive and unconstitutional.
While rent regulations such as those in New York have been enacted with the intention of providing affordable housing, the consensus of leading economists from across the political spectrum is that such rent control rules are not only inefficient, but detrimental.
“Rent control does nothing to address the housing affordability crisis facing our nation. In fact, it further exacerbates the crisis by disincentivizing further development and preservation of existing affordable stock,” said Doug Bibby, NMHC President. “Instead, lawmakers in New York and other municipalities considering such measures should enact policies that promote the creation of new housing and broaden housing opportunity for all.”
The amicus brief, filed jointly with the National Apartment Association in the U.S. Court of Appeals for the Second Circuit, argues that the RSL violates both the Takings Clause and the Due Process Clause of the U.S. Constitution. The full amicus brief, which supports a federal lawsuit brought by the Rent Stabilization Association of New York City, Community Housing Improvement Program and individual property owners, can be found here.
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 40 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at firstname.lastname@example.org.