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In defense of rent control, it provides a stabilizing force during a downturn. How many folks who live in an apartment that has been under rent control for 10+
by qqqwerty 6y ago
In defense of rent control, it provides a stabilizing force during a downturn. How many folks who live in an apartment that has been under rent control for 10+ years are packing up and moving into their parents basement right now? My guess is very few.
It certainly has its issues, but there are much worse market distorting policies that I would like to see be fixed before rent control gets put on the chopping block.
- jonahbenton 6y agoRent control in NYC also enormously important for elderly population, which has been systematically exploited by owners for centuries. It is absolutely not in owner interests. But cities by and large have been built in accordance with owner interests.
- landryraccoon 6y agoI’m not sure this is a good argument. What landlords would try to raise rents or evict aggressively during a recession? Rent control prevents rents from aggressively dropping because landlords know the rents can’t be increased later. This is during a time when rents really need to go down.
- Psyonic 6y agoNot the OP, but I think his point was people aren't ending their lease and moving home til covid is over, because if they did, they wouldn't be able to get that low of rent again.
- nickik 6y agoIt helps the people in the apparent and hurts everybody else. Doesn't really change in a recession.