“this growing gap is leaving some building owners increasingly unable to cover basic operating expenses, which can lead to deferred maintenance and reduced investment in the city’s existing housing stock.

“rent increases on rent-stabilized apartments have failed to keep pace with inflation for years, even as the costs of maintaining buildings have continued to rise

“And not only do you end up with fewer housing units available, but the quality of those units consistently goes down as well,

“the problem goes beyond new construction, arguing that government limits on rents can reduce the number of apartments available and discourage investment in existing properties.

“Merely the threat of a more hostile tax and regulatory environment has been enough to chill investment in New York City, and that’s already impacting prices,

“Economists, whether they are on the right or on the left, essentially are in universal agreement, that when the government implements price controls in the rental market, you end up with housing shortages,

“This is a systemic disinvestment by successive governments

“the index ignores key housing costs such as property taxes, insurance and home prices