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>No, rent control also redistributes the burden of rising rental costs from people who have rent control to people who don't Supply of apartments and demand fo
by crdoconnor 8y ago
>No, rent control also redistributes the burden of rising rental costs from people who have rent control to people who don't
Supply of apartments and demand for apartments doesn't suddenly change under rent control so no, there's no market pressure making non rent controlled apartments more expensive hence there is no redistribution between renters.
Lucky renters get below market rate and unlucky renters get market rate.
There is only re-redistribution from rentiers (landlords) back to renters. 1% -> 99%.
I don't think rent control is the best solution for the housing crisis (100% LVT ftw) but it's intellectually dishonest to pretend that it hurts renters. It never has and it never will.
- kelnos 8y ago> Supply of apartments and demand for apartments doesn't suddenly change under rent control Yes it absolutely does. Demand doesn't change, but supply is artificially reduced because people with rent control are less likely to want to (or be able to) move out.
- crdoconnor 8y agoPeople who don't move out aren't increasing supply but they also arent competing with other people seeking new apartments so they aren't increasing demand either. It's net neutral. Unless you're talking about the people forced on to the street or out of the city entirely by rising rents...?