How The Poor Can Afford To Live In New York: The lucky ducky poors get rent control and everyone else gets higher rents.
Bonus: McArdle demonstrates her faux elitism:
You frequently see studies and articles pushing some version of No. 1: that when you account for the “true cost,” adding in things such as transportation, it’s surprisingly cheap to live in the city. I find these studies broadly implausible, because they leave out little things like “the cost of having to have everything delivered,” “the cost of taking taxis when you’re in a hurry” and “the cost of having to have a pet taxi to take the dog anywhere.” They also fail to account for the upward pressure that high real estate prices put on the cost of everything else and the time cost of mass-transit commutes. And let’s not get started on incidentals such as educating your children.A quote that you will never ever get from McArdle, from a pro-tenant site:
What is the profile of most rent-controlled tenants? According to the 2005 Housing and Vacancy Survey, there are now 43,000 rent-controlled apartments in New York City. The median income of those households was $22,200. The median rent is $551 per apartment, and the median household pays over 33.5% of income for rent. The city's rent-controlled tenants are mostly elderly – with most tenants having lived in their apartments since 1971 or before.