4 ms·
The way to stop rents from rising is simple: Make sure there's enough new supply of housing to meet new demand. A lot of people are moving to the Valley but env
by omarforgotpwd 10y ago
The way to stop rents from rising is simple: Make sure there's enough new supply of housing to meet new demand. A lot of people are moving to the Valley but environmental / historical / construction / neighborhood regulations slow down new housing because existing residents don't want their neighborhood "ruined" by new residents and traffic. Attempting to solve rising rents by legally regulating what the market can charge is not a great idea. It will be even harder to find a vacant apartment as people hang onto their rent controlled units, and landlords will have a big incentive to find a way to throw people out of their homes to collect a higher rent as prices rise. Basically existing residents get subsidized as new people trying to move in get fucked over, which works perfectly for politicians who are not elected by people who don't live here yet.