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The problem is that for every unit that is built.. then the new dwellers then become in support of rent control. Even worse for each developer that is able to b
by resonantjacket5 10y ago
The problem is that for every unit that is built.. then the new dwellers then become in support of rent control. Even worse for each developer that is able to build, right after building the development they then start supporting rent control to prevent their prices from falling.
Basically everyone who joins the club essentially tries their hardest to shut the door once they get in.
- omgbear 10y agoIn SF at least, new buildings are not under rent control
- resonantjacket5 10y agoYes... and it doesn't apply to my point. Let's say a piece of land costs 1 million normally and 2 million under rent control. I buy land for say 2 million (which would be 1 million without rent control) and estimate over 20 years I can earn 2.5 million or whatever as long as its above 2 million. If rent control and building restrictions are removed, as more houses are built then rent will go down back to 1 million throughout the city and effect my own earnings. Hence every person who owns developed land in San Francisco is for rent control, while if their land is just one small house their against it. However, once the person develops their own land they also start supporting it.
- deleted 10y ago[deleted]
- GeneralMayhem 10y agoSan Francisco's rent control only applies to buildings constructed before the law went into effect in 1979, so in principle that shouldn't be a concern.