TABLE 3 - Alternative Estimates of the Effect of Vacancy
Decontrol on the Monthly Rents Paid by New Occupants of Rent Regulated Apartments
over the Next Two Years (Medians) |
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|
|
|
|
|
|
|
Median Absolute Increase |
|
Median Percentage Increase |
|
|
|
|
|
|
|
|
|
(1) |
(2) |
(3) |
|
(1) |
(2) |
(3) |
| Entire City |
$32 |
$0 |
$0 |
|
4.4% |
0.0% |
0.0% |
| Bronx |
$24 |
$0 |
$0 |
|
3.9% |
0.0% |
0.0% |
| Brooklyn |
$0 |
$0 |
$0 |
|
0.0% |
0.0% |
0.0% |
| Manhattan |
$134 |
$92 |
$0 |
|
15.8% |
10.9% |
0.0% |
| Queens |
$16 |
$0 |
$0 |
|
2.3% |
0.0% |
0.0% |
| Staten Island |
$0 |
$0 |
$0 |
|
0.0% |
0.0% |
0.0% |
|
|
|
|
|
|
|
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NOTE. _ (1) Preliminary estimates based on market and actual rents at
the time of the 1996 Housing and Vacancy Survey. (2) Revised estimates accounting
for allowed increases in actual rents when apartments are vacated under
the ordinance in existence in April 1997 and increases in market rents due
to the loss of the tenure discount and inflation. (3) Refined estimates
to insure that the predicted market rent of each apartment is at least as
large as its actual rent. If the predicted median absolute or percentage
increase is negative in (1) or (2), zero is reported because the actual
rent of an apartment can never be greater than its market rent.
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