3 ms·
Rent control just picks a few lottery winners and lets everyone else pay for their housing. It is inherently not a scalable solution, and in some cases is a dou
by oh_sigh 6y ago
Rent control just picks a few lottery winners and lets everyone else pay for their housing. It is inherently not a scalable solution, and in some cases is a double-edged sword for the lottery winners. One of my first neighbors in NYC was an agoraphobic pensioner. He hated the city, but literally couldn't move because he could only afford his 2BR in the UES for $400/mo (for reference, I was paying $1600/mo for a studio across the hall from him).
- eru 6y agoIt's even worse. If you win an actual lottery, you can transfer your winnings. If you win the rent control lottery, you are forced to sit in the house. Use-it-yourself or lose-it. Thus, as you say, people stay in the old place even after it no longer makes sense for them.