Rent Control in New York
Case Study #2 – CIE3M – Mr. Ludwig
Read the case study below titled “Rent Control in New York”
Answer the questions assigned on the New York City Rent Control –
Answer Sheet by drawing upon the information detailed in the article and
also the subject matter covered in the related Economics class.
Answers can be inserted directly onto the New York City Rent Control –
Answer Sheet provided on the daybook.
The case study answers must be printed out and submitted prior to the start
of class as a „ticket to class‟.
Total Marks [Communication] - ____ / 11
Case Study Questions:
#1: Define rent control. [1 mark]
#2: When rent control is introduced into the free market, what is caused/created
that leads to prices increasing drastically? [1 mark]
#3: State the objective of rent control. Identify which special-interest group is
supposed to benefit the most from rent control. [2 marks]
#4: Identify the socio-economic group(s) that has (have) benefited the most from
the rent control policies in New York City. [1 mark]
#5: Identify what occurs in the market as a result of rent control policies. [1 mark]
#6: List and explain the two reasons why the answer to Question #5 occurs. [2
#7: Determine and state whether buyers or sellers have the power in the housing
market in New York and explain why. Identify the type of market that develops
for housing as a result. [3 marks]