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If you tie rent increases to COL changes YoY then rent should stay relatively indexed to wages and other expenses, while preventing landlords from manipulating
by mattzito 4y ago
If you tie rent increases to COL changes YoY then rent should stay relatively indexed to wages and other expenses, while preventing landlords from manipulating occupancy at the expense of renters.
I would have happily rented for forever if we had been able to get a great apartment that was rent stabilized and had good tenant protections. It was just the unpredictability of rentals in NYC that drove us to buy.
- Manuel_D 4y agoIf you tie rent increases to the prices of other goods it still results in suppressed returns on development. If there's a housing shortage and rental prices rise faster than energy, food, etc. then people will be paying less than market rate (read: suppressed returns on development). Like in San Francisco: AFAIK food, energy, and other staples did not rise significantly faster than other areas. But housing shortages led to significant rent increases. The only way rent control doesn't suppress returns on development is if the maximum rent increases are higher than what the rental increases would be absent rent control.