Taking a closer look at Mayor Wu's plan to bring back rent control in Boston
Jan 25, 2023
WBZ-TV (CBS Boston) interviewed Kim on Mayor Wu’s rent control proposal. Kim talked more broadly about the importance of strong and equitable housing policies for the families in our programs.
With booming rental prices across the city, Boston Mayor Michelle Wu has put forth a proposal for rent control. Boston residents haven't seen this type of legislation since the city did away with it in 1994.
"We eliminated if because it was closing down future development," said Northeastern Professor Emeritus Barry Bluestone. He has been studying rent control for decades, "Over and over again I had to comment on rent control proposals, and had to say, 'In the end, don't do this.' This I can fully support."
The mayor's plan will cap rent hikes at 6%, however it can be as high as 10% if inflation is poor. Any new development will be exempt for the first 15 years. Smaller owned properties like triple-deckers will also be exempt.
"This has the ability to limit rent control with the addition of new housing which we so much need," said Bluestone.
Some real estate agents fear the legislation will continue to scare off developers. They say older buildings require more upkeep and renovation.