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In SF at least, new buildings are not under rent control
by omgbear 10y ago
In 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]