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Ironically, strong rent control policies help the rich exactly because of this dynamic. The city is thriving while its most valuable real estate is empty.
by gniv 7y ago
Ironically, strong rent control policies help the rich exactly because of this dynamic. The city is thriving while its most valuable real estate is empty.
- afpx 7y agoPlease explain for those of us who fail to see the connection.
- legitster 7y agoOccupancy with rent-control is virtually 100% and guarantees the desirability of non-rent controlled units in the same area. It's an interesting point, but I don't think would crack the top 10 list for reasons rent control is bad.
- gniv 7y agoNote that I'm not saying rent control is bad. Anyway, imgabe argued that having more and more apts owned by rich folks that don't live in them changes the city for the worse, reducing the value of these apts as well. I'm arguing that having rent control means there is a base of people who live there and keep the city/neighbourhood thriving, thus (as a side effect) helping the expensive apts keep their value.