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> A city of renters is a soulless city I am beyond skeptical on this point. The young and dynamic people responsible for a city’s soul generally can’t afford t

> A city of renters is a soulless city I am beyond skeptical on this point. The young and dynamic people responsible for a city’s soul generally can’t afford to buy (I would guess, I have no data)

hnarn 8y ago
You wouldn't be skeptical if you spent an extended period of time in a city mostly occupied by these "young and dynamic people". Hong Kong is a good example.
cabaalis 8y ago
Ouch. You and I may well disagree about the meaning of soul!
- S_A_P 8y ago
  Agreed, I always equate the soul of a city/neighborhood to having multi generational culture. Cleaning up Brooklyn and putting a bunch of hipsters there didnt give it soul...
bertil 8y ago
One possible consequence of limiting the market is that it could lower the price of buying real estate. Hopefully, that should make it accessible to younger buyers.
- michaelcampbell 8y ago
  Are there any occurrences of such a price control doing anything but worse unintended consequences?
  - bertil 8y ago
    There has been similar systems in place in France and Sweden, and probably other European countries. Usually, they are targetting financing system: you can borrow money at a rebated cost if you do not rent it for a period of five to ten years. The intended consequences are more people being able to afford a house and home ownership has increased with most policies that I can think of. There are some consequences: rental contracts are very hard to find in Stockholm for instance, but those hardly seem unintended.
- rocqua 8y ago
  People need housing, this limits renting, which affects the supply of housing. In the end, when supply goes down, it usually doesn't make something more attainable. Thats only a first order approximation, but it seems plausible to me.
michaelt 8y ago
It depends what part of "a city's soul" you choose to look at; and how stable your city's long term rental market is. The local bands, and dances full of pretty single people? Mostly young people have the time and inclination for that, and they're less likely to be homeowners as you say. But the volunteer coach of the children's football team, or the people who organise the annual artists' open studio? You can't take those sorts of responsibilities if you're moving away in a year or two, you'd almost be handing it over to someone else before you'd finished having it handed over to you! Of course, hypothetically there's no reason a person renting a house can't rent it for 5 years or more - just in my country, that's rarely how it works out.
- Scarblac 8y ago
  With 10 year and higher waiting lists for affordable renting in the Netherlands, many people stay in their rental home for their entire working life once they've finally got one.

hnarn 8y ago

You wouldn't be skeptical if you spent an extended period of time in a city mostly occupied by these "young and dynamic people". Hong Kong is a good example.

cabaalis 8y ago

Ouch. You and I may well disagree about the meaning of soul!

S_A_P 8y ago
Agreed, I always equate the soul of a city/neighborhood to having multi generational culture. Cleaning up Brooklyn and putting a bunch of hipsters there didnt give it soul...

bertil 8y ago

One possible consequence of limiting the market is that it could lower the price of buying real estate. Hopefully, that should make it accessible to younger buyers.

michaelcampbell 8y ago
Are there any occurrences of such a price control doing anything but worse unintended consequences?
- bertil 8y ago
  There has been similar systems in place in France and Sweden, and probably other European countries. Usually, they are targetting financing system: you can borrow money at a rebated cost if you do not rent it for a period of five to ten years. The intended consequences are more people being able to afford a house and home ownership has increased with most policies that I can think of. There are some consequences: rental contracts are very hard to find in Stockholm for instance, but those hardly seem unintended.
rocqua 8y ago
People need housing, this limits renting, which affects the supply of housing. In the end, when supply goes down, it usually doesn't make something more attainable. Thats only a first order approximation, but it seems plausible to me.

michaelt 8y ago

It depends what part of "a city's soul" you choose to look at; and how stable your city's long term rental market is. The local bands, and dances full of pretty single people? Mostly young people have the time and inclination for that, and they're less likely to be homeowners as you say. But the volunteer coach of the children's football team, or the people who organise the annual artists' open studio? You can't take those sorts of responsibilities if you're moving away in a year or two, you'd almost be handing it over to someone else before you'd finished having it handed over to you! Of course, hypothetically there's no reason a person renting a house can't rent it for 5 years or more - just in my country, that's rarely how it works out.

Scarblac 8y ago
With 10 year and higher waiting lists for affordable renting in the Netherlands, many people stay in their rental home for their entire working life once they've finally got one.