There’s always a lot of contention and rhetoric regarding the issue of rent stabilization, as evidenced by the annual raucous event in June when the Rent Guidelines Board holds its meeting. To be sure, this is to be expected when one is dealing with issues of finance, livelihood, profits, and making ends meet as a tenant or as a landlord.

There are many in New York City who allege that rent stabilization is to be blamed for the continued housing shortage and high rents. Many landlords with personal agendas refuse to see beyond the lining of their own pockets. They, and their numberless advocates, would like to see the poor, the indigent, the working class, the hardworking fireman, police officer, nurse, janitor, stockroom clerk, and myriad decent, law abiding citizens run out of town and replaced by the wealthy, the Wall Sreeter, loaded foreigners using NYC as a playground for second homes, and kindred types in an assorted well-heeled only clique.

Well, they can dream on, if they must, but the state legislature, many years ago, acted wisely in recognizing that if market forces alone were to determine housing costs in NYC, this great town would become a playland for only the Park Avenue and Fifth Avenue gentry and similar other financially well-endowed individuals. They realized that NYC stands as a beacon to the world of the best of America, that it is more than another metropolis for only the likes of the Rockefellers, JP Morgans, Vanderbilts, and a wave of pseudo and nouveau wealthy, and the menagerie of individuals who have attained or inherited wealth by legal or illegal means.

They understood that NYC is not Beverly Hills, that it stands alone in America and throughout the world as a place for people of all ethnicities, all races, all classes, all religions to coexist, to work, and yes…to find shelter.

Some have argued that since food prices are not generally regulated, why should some housing be subject to rules and price restraints. Housing and food are considered basic human needs in all societies and here in NYC and in America we do provide safeguards for many against out of control food prices by providing food stamps and other assistance to those who cannot afford the market rates by virtue of income and assets. Likewise, in NYC we provide rent regulations to ensure economic diversity in the city’s population and affordability for those who would otherwise be priced out.

For those who cry foul alleging that regulations are killing landlords, one must consider also that many owners of rent regulated buildings and units have enjoyed tax breaks, abatements, concessions that were granted to them up front and which some continue to enjoy.

Most Americans support our capitalist form of government in which the marketplace is the dominant mechanism at work. We also demand governmental oversight, vigilance, regulation, interference in ensuring safety, health, environmental standards are met and also that the economic pie is available for all hardworking and that cities like NYC remain economically and socially diversified and well-balanced.

This combination ensures that NYC continues to attract the best talent to manage its industries and governments as well as those at ground level to care for the work needed there. It allows NYC to be the residence and workplace for those also who work to maintain its infrastructure for all – teachers, police officers, firemen, paramedics, construction workers, and a long list of hardworking others scattered throughout the city.

There will always be a few culprits on both sides who abuse a system that was designed to do good. There will be stabilized tenants with lofty salaries and assets, riding high, frolicking in the sand and beach at their other villas; there will be landlords never satisfied with the rent they are getting if they can eke out one more penny from another hapless tenant including the old granny living off of her tiny social security check and struggling to buy food and medicine.

Many owners of regulated apartments do indeed have a difficult time keeping pace with rising costs of energy, labor, maintenance, supplies, etc. We cannot ignore the legitimate concerns of struggling landlords facing escalating costs. But the Board does take into account their concerns when it meets annually to determine the allowable percentage increase in rents for buildings under stabilization.

When the smoke clears and the dust settles, one finds that sometimes there really are struggling landlords; and yes, sometimes there really are people who are unable to move elsewhere not only in the city but practically in any other corner of the planet.

The status quo in rent stabilization may not be ideal, it may not be perfect, and it may well indeed be in need of tweaking or even fundamental reform to address abuses and to find alternative or complementary means of housing affordability. Let’s however not throw out the baby with the bath water but work together as residents of the city through our elected representatives to address the concerns of all constituents.