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"For years, development officials, the real estate industry and think tanks have told us that artificially low rents are holding the city back. Higher rents, th
by smn1234 9y ago
"For years, development officials, the real estate industry and think tanks have told us that artificially low rents are holding the city back. Higher rents, the argument went, would free landlords to make a reasonable amount of money and serve as an incentive to increase the housing supply."
who are these "geniuses?"
- otakucode 9y agoRent-seeking is a destructive economic behavior. It literally destroys value from an economy. I have no idea how they might suppose permitting some wealthy people to get more wealthy by doing nothing of any value would do anything but provide a vampiric drain on value from the economy of the city.
- mlvljr 9y agoyou bloody marxist! :)
- dpark 9y agoThe question is whether the housing supply has increased faster than rent. The assertion that it’s too expensive to build low-rent apartments in a city where land is about as expensive as it gets us not unreasonable. I have seen little concrete that shows rent control helps supply in general.