Already, hundreds of poor Israeli familes are being forced out of their homes as a housing shortage pushes rents above their reach.

Yet they have sat empty for almost four years, even as the retail trade on Madison Avenue has boomed, pushing annual rents to more than $500 a square foot nearby.

However this did not last, as the owners at that time, Grosvenor, pushed rents up in an attempt to capitalise on the centre's popularity.

Invariably, improvements then push rents beyond the reach of the very people who sowed the seeds of change.

At the moment, the lack of a cap means that landlords can fleece the taxpayer for as much as they want, and it pushes rents up.

In some cases, the arrival of affluent newcomers has pushed rents beyond the reach of the Indians and Hispanic people who have lived there for generations.

Owners can also pass on to tenants part of the cost of capital improvements, pushing rents toward the $2,000 level.

And Ms. Miro (pronounced MY-ro) had moved her metalworking studio each time gentrification pushed rents up.

Rents Not Seen Rising The uncertainty about the towers has not yet pushed rents up yet in other buildings.

Declining vacancy rates have pushed rents for Class A office space in Stamford to around $32 per square foot.