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"Since city & state lawmakers started gutting the rent laws in 1993, the city has lost more than 152,000 regulated apartments b/c landlords have pushed the rent too high. At least 130,000 more have disappeared because of co-op & condo conversions, expiring tax breaks..."
"In place of regulatory muscle...the system relies on trust: trust that landlords do the right thing, trust that architects and engineers submit accurate permit applications, trust that landlords report rental histories correctly, trust that eviction suits are legitimate."
