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This is an absurd editorial. The cited arguments against rent control assume that rent control is just about capping rents. Rent control is about much more th
by joeevans1000 11y ago
This is an absurd editorial. The cited arguments against rent control assume that rent control is just about capping rents. Rent control is about much more than that: it often is about capping rent for long time residents. If your grandmother has lived in her apartment for 65 years, she should not be tossed out just because a 19 year IT worker can pay more. Rent control takes in many factors, and is not just about capping rents in a region. However, I don't expect The Economist or it's reader demographic to care much about those affected by the rabid efforts to dismantle what protects many, just so that people can better profit on their properties.
- mc32 11y agoI don't think it's absurd. There are definitely some hard policy questions. However, that said, Krugman, an economist many populists like to cite agrees with their position. Rent control is short-term good, long-term bad. The solution is one of two things, more housing units, or fewer residents in a given area --look at any town/city where there is a pronounced long-term population decline, do you see a similar, "minimum rent" control? No, but you do see rent go down and typically the place suffers many ills. All it comes down to is everyone wants in when the going is good and everyone wants out when the going gets bad.