3 ms·
I mean sure, if you want to address it from the demand end of things that would work if there were a viable solution. The hard fact is that people want to live
by TOMDM 4y ago
I mean sure, if you want to address it from the demand end of things that would work if there were a viable solution.
The hard fact is that people want to live in large cities.
Even if you were to legislate that all landlords had to provide housing at cost + 5%, there would still be a demand for more housing as people desperately bid to enter those areas. Further more, you'd see people never give up those rentals because there would be a mile long waiting list for every property that is under rent control.
I have a lot of sympathy for people disgusted by the greed landlords display, but at the end of the day, the issue here is that more people want to live in these places than there are homes for them. So the wealthy bid their way in and everyone else be damned or destitute in order to compete.
If you want radical policy, eminent domain low density housing in city limits and build apartment rises on them.
- voidhorse 4y agoThat’s fair, but I don’t see how it would prevent similar effects from eventually spidering out to those city limit properties once the demands propagate to those areas. I think the solution will require a mix of infrastructure solutions (building more homes) and regulatory solutions. I’m not saying landlords can’t make money, but there should definitely be greater restrictions around how much they can raise rates (which did exist, but which NYC is steadily removing) and renters need to be afforded more rights and protections too.
- TOMDM 4y agoI mostly agree. First off, city limit property is already seeing this effect. Tenant protections in the USA suck. Big Time. However landlords raising rates are a great signal that your infrastructure is failing somewhere. This is useful because it means you can look for and address the problem. Some locations are going to be incredibly desireable and thus expensive, and that's okay, as long as there are options available for everyone else who can't afford them. And as far as regulation solutions, removing mixed zoning restrictions would be a massive step forward in allowing development of construction that could address some of these issues. Being able to live within a minutes walk of groceries, restaurants etc. is such a freeing experience that is taken from too many due to zoning restrictions. Regulatory reform could fix that.