De Blasio Issues Warning To AARP Members That Rent Regulations Set To Expire Monday

NEW YORK (CBSNewYork) -- Mayor Bill de Blasio issues a dire warning on a call with AARP members pointing out that rent regulation will expired Monday, WCBS 880's Rich Lamb reports.

"If every rent regulated apartment in New York City...one millon plus units; two million plus people...if all of those went to market rate in the next year or two, the level of displacement would be like nothing we've ever seen before."

De Blasio added that, "it will be devastating to working people in this city and it would be the beginning of the end of New York City as we have known it as a place for everyone."

The mayor urged immediate action.

"I'm asking everybody on this call to make your voice heard. Call your state assemblymember, call your state senator, call the governor."