I sent a Letter to the Editor of Newsday on June 21st which they chose not to publish   Since I thought it important to publicly correct their error on the recent housing law passed by the NYS Legislature, I am posting it here  

In commenting on the landmark housing reform just passed by the New York State Legislature, and signed into law by the Governor, Newsday’s criticism was based on a serious misreading of the legislation.

It its editorial, Newsday wrote: “While the State Legislature’s efforts to expand rent regulations are intended to help residents by improving their ability to find and keep reasonably priced rental housing, one piece of the rent legislative package would have the opposite impact, especially in Suffolk County. Lawmakers got rid of the most egregious provision, which would have stopped almost all evictions and limited rent increases. … That might seem like a good idea. After all, Nassau County already has rent regulations that have been baked into the area’s housing market and work well in places where there’s little land left for new development. But in Suffolk, where there are few apartments and much open land to build them, the bill would have unintended, detrimental consequences. Rent rules would stifle attempts to build reasonably priced rental housing, as developers and lenders would find themselves unable to finance and build rental housing. What’s more, it could lead landlords of existing rentals to consider converting them into cooperatives or condominiums, making the lack of rentals more dire.”

But that interpretation is based on a misreading of the law. The facts are, the new system only applies to buildings built before 1974 that contain 6 or more units. Therefore, it would not apply to new development, and would not deter new development at all because those buildings would be exempt from rent stabilization, and developers could price them however they see fit.

Thus, the new law in no way discourages new development in areas with “not enough apartments and open land to build new ones”.  In fact, one could argue that it will in fact incentivize new construction since it will allow for pricing at whatever rate a developer sees fit.

Thus it would thus seem incumbent on Newsday to correct its misleading editorial, and fully applaud the legislature for its progressive legislation.

Respectfully,

Dr. David Sprintzen

Officer, Long Island Progressive Coalition