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Right. Rent control has created a situation where people are stuck in cramped apartments and no one has incentive to fix the problem. And there aren’t any easy
by Robotbeat 6y ago
Right. Rent control has created a situation where people are stuck in cramped apartments and no one has incentive to fix the problem. And there aren’t any easy outs. Just have to relentlessly attack the housing supply crunch until rent control isn’t needed.
- asdff 6y agoAll rent control says is that you can't raise rent more than x% a year. In my city that is 4%. For a landlord, being able to raise rent 4% a year is a great thing; that's a 15% increase every 3 years. Not all real estate markets even support that level of growth, my rent in collegetown USA was stagant for my four years, but for places where rents surge by double digits a year it puts some brakes in place, since wages don't follow suit with a double digit hike a year. In a world where wages aren't going up by that much, rent control is needed to protect workers from price gouging by scrupulous landlords taking advantage of a sellers market. I don't know why so many are against simple consumer side protections such as preventing price gouging on shelter; we make it (sensibly) illegal to price gouge on food and water and other essential goods, but shelter is somehow an investment.