4 ms·

I skipped a few steps; here’s the layman’s interpretation. Rental stock doesn’t spring into existence; it comes from private investment, predicated on reliable

I skipped a few steps; here’s the layman’s interpretation. Rental stock doesn’t spring into existence; it comes from private investment, predicated on reliable returns made possible by the laws surrounding rental. Suspending those laws in turn destroys this investment/return equation. No more rental stock. Similar calculus for wage controls; no more profits - no more jobs/wages. You can demand whatever you want; you just get to live with the results of your demands, long-term.

pjkundert 6y ago
I’m actually a bit embarrassed to have to lay out such trivial and obvious outcomes of almost comically wrong-headed interventions...
- aaomidi 6y ago
  Probably because you don't realize we have more housing than population in the US right now.
  - pjkundert 6y ago
    Housing is fungible. Rental housing owners are not. Elites (such as those who run the CDC) look at rental housing owners as a group, but the impacts are disproportionately borne by those who have the fewest properties - families who are doomed to lose their life-savings. Real-estate investment trusts, etc., can both outlast family owners, and are usually owned as a fractional portion of people’s portfolio; their failure is not a catastrophic event. Families losing their inheritance is catastrophic. Elites extra-legally terminating historical conventions on rental liability are dooming families to poverty, not just “helping” a renter.
    - ForHackernews 6y ago
      Please explain how rental owners are not "fungible" in an economic sense? Does it matter to me if my landlord is a big real-estate trust or a poor put-upon "family" owner with only two or three spare houses to their name? Sidenote: you could even argue that big corporate landlords are better for society. In my experience, they tend to be more professional, and more committed to obeying the letter of the law w/r/t to tenants' rights.

pjkundert 6y ago

I’m actually a bit embarrassed to have to lay out such trivial and obvious outcomes of almost comically wrong-headed interventions...

aaomidi 6y ago
Probably because you don't realize we have more housing than population in the US right now.
- pjkundert 6y ago
  Housing is fungible. Rental housing owners are not. Elites (such as those who run the CDC) look at rental housing owners as a group, but the impacts are disproportionately borne by those who have the fewest properties - families who are doomed to lose their life-savings. Real-estate investment trusts, etc., can both outlast family owners, and are usually owned as a fractional portion of people’s portfolio; their failure is not a catastrophic event. Families losing their inheritance is catastrophic. Elites extra-legally terminating historical conventions on rental liability are dooming families to poverty, not just “helping” a renter.
  - ForHackernews 6y ago
    Please explain how rental owners are not "fungible" in an economic sense? Does it matter to me if my landlord is a big real-estate trust or a poor put-upon "family" owner with only two or three spare houses to their name? Sidenote: you could even argue that big corporate landlords are better for society. In my experience, they tend to be more professional, and more committed to obeying the letter of the law w/r/t to tenants' rights.