5 ms·
Rent control is almost always a disaster. It benefits current residents at the detriment to everyone else. Look no farther than SF or NYC. I have a friend in NY
by nullwasamistake 7y ago
Rent control is almost always a disaster. It benefits current residents at the detriment to everyone else. Look no farther than SF or NYC. I have a friend in NYC paying 2000 a month to be a roommate to a guy paying 1500 for the whole place. Yeah he's paying more than this guy's whole rent, because the apartment is rent controlled.
- gwright 7y agoAgree with you about rent control, but I'm assuming that the "guy" must be breaking the law. If people in rent controlled apartments are free to sublet at market rates, that seems like a huge loop hole easily exploited. Regulations like this tend to create incentives for corrupt practices of all kind.
- nullwasamistake 7y agoThey're not allowed but it's so hard to evict people from rent controlled units in NYC, and so lucrative to rent out your place, that it's extremely common. Maybe more than 50% of units. A lot of times you rent to a friend or relative so they don't rat you out. It effectively turns rent control into a $1000+ a month untaxed subsidy. I'm sure there's plenty of people that rent out more desirable rent controlled units and don't have to work a day in their lives.