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When rent gets like this (very high and controlled by a cartel as appears to be the case here) then there needs to be a remedy and the free market isn't going t
by gaoshan 4y ago
When rent gets like this (very high and controlled by a cartel as appears to be the case here) then there needs to be a remedy and the free market isn't going to be it. If the subject were some luxury good that was being impacted it would be of much less concern but this is housing. It's a fundamental human necessity and it's being manipulated.
The ideal here should be to cause the least harm. To everyone involved. Landlords should not be ruined but even more important should be the right of people to reasonable housing costs. Again, this is not a luxury... it's a basic human requirement and since it appears to be getting out of hand there needs to be a remedy. The only group powerful enough to provide that remedy, in our system, is the government.
- crooked-v 4y agoThe remedy would be taking every city over a certain population, slam dunking local restrictive zoning and permitting straight into the trash, and replacing it with permissive "shall issue" zoning at the state or national level, in the style of Japan [1]. There's no great mystery here. There just aren't enough housing units in the places people actually want to live, and local cities are keeping it that way. [1]: http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html
- lotsoweiners 4y agoSo should I just take my valuable but older real estate and have it leveled to rebuild similar amount of units but now luxury versions for much higher rent or sell to future land developers?