4 ms·
great time to introduce state-wide rent control.
by tehlike 7y ago
great time to introduce state-wide rent control.
- stass 7y agoWhich will make housing even more scarce.
- ajmurmann 7y agoOr finally build some housing where it's most in demand.
- katmannthree 7y agoModest housing at that, not the "luxury" apartments that are springing up everywhere.
- yenwodyah 7y agoAny new housing is good, even if it's luxury; when people move into luxury apartments, it relieves demand on wherever they were living before, lowering prices.
- erik_seaberg 7y agoThis. If we refuse to build luxury housing, people who could afford it will just outbid everyone on whatever we do build, because they need to live somewhere. And it may look like they're springing up everywhere but we're barely treading water, the absolute numbers still aren't keeping up with influx.
- BurningFrog 7y agoThe new housing is not expensive because it's "luxury", but because it's rare. Just like the old modest housing is.
- imtringued 7y agoBy definition all new construction is "luxury" when the "non-luxury" competition is 80 year old apartments buildings. How do you expect an apartment building that has yet to break even to be cheaper than an old apartment that had 80 years to net the owner a hefty profit? This reminds me of Berlin where rent control is being proposed. For reference the average rent prices there are 7€/m² and rent control will limit it to 5€ per m² for buildings that are older than 50 years (not an exact number). How do you expect to ever profitably build something for 5€/m²? It's impossible and therefore won't happen. New buildings will probably start at 10-12€/m² and go down once they are 20 years old.
- katmannthree 7y agoThere's a difference between new and shiny and new and expensive. The new developments are made with premium stainless steel and granite finishes, unlike the 30 year old building I live in which was made with cheap vinyl covered MDF cabinets and countertops. There's no non-economic reason people couldn't make modest housing today, they just don't because they can make more money by building luxury housing instead.
- SlowRobotAhead 7y ago”but you’ll ruin the character of this place”
- seem_2211 7y agolooks at Daly City with befuddlement
- refurb 7y agoBad idea, but you know what? California did pass state wide rent control last year!
- tehlike 7y agoDid it? I dont think costa hawkins got repealed?
- refurb 7y agoCosta Hawkins wasn’t repealed, but Costa Hawkins just prevent local cities from instituting stricter rent control than the state. The state did institute rent control.
- imtringued 7y agoI didn't expect the whole state to doom itself...
- tehlike 7y agoI think people either didnt see the sarcasm in the message, or they are in favor of rent control. I dont know which, to be honest.