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But rent control manipulates the free market. With rent control, people who might otherwise move, don't. Further, people who might rent a vacant apartment whil
by ghouse 9y ago
But rent control manipulates the free market. With rent control, people who might otherwise move, don't. Further, people who might rent a vacant apartment while they're overseas don't. Or people who start a family and move to the suburbs keep their city place as a pied a tier. So supply is suppressed, but demand is not.
- ribosometronome 9y ago>But rent control manipulates the free market. With rent control, people who might otherwise move, don't. But rent control manipulates the free market. With rent control, people who might otherwise be priced out and forced to move away, aren't.
- s73ver_ 9y ago"With rent control, people who might otherwise move, don't." I'm failing to see the problem. Unless those people would have moved for reasons other than soaring rent, them getting to keep their homes is a GOOD THING.
- rhino369 9y agoThere are plenty of bad outcomes: say they no longer need a 3 bed apartment. But with rent controls, they might actually pay more if they moved to a 1 bed. Or they get a job in San Jose and are forced to commute instead of just moving because they are getting such a deal. But the bigger issue is that is artificially raises demand. That prices up for everyone else, which does more harm. It's a subsidy for older people paid for by younger people.
- deleted 9y ago[deleted]
- imtringued 9y agoIf they truly didn't want to move out because of soaring rent then they would lobby for building more housing. Rent control and prop 13 prevent this from happening. Older residents are now actively fighting to keep their protections and prevent the construction of new housing at the cost of newer residents. Instead of letting the bubble pop when it's harmless it's growing more and more and when it does pop it is going to be extremely painful.