4 ms·
So basically the signal that prices provide (more supply is needed) is stifled. Seems like a great way to make sure supply never adjusts, which is what happens
by refurb 2y ago
So basically the signal that prices provide (more supply is needed) is stifled.
Seems like a great way to make sure supply never adjusts, which is what happens in places like SF.
- azinman2 2y agoI don’t understand - are you suggesting rent control keeps doing prices? SF is one of the most expensive housing and rental markets in the US. What’s not clear about the need for more supply? In the mean time rent control means we haven’t completely killed off normal people who were here before. The city has already suffered a big blow to culture, teachers, etc due to the price increases this far (and with it techies who care about money and job vs desiring the location, and thus take vs give). location
- refurb 2y ago> In the mean time rent control means we haven’t completely killed off normal people who were here before. Do you think all restaurants would just close down if there wasn't rent control? Of course not, restaurants would be forced to pay a high enough wage for workers to pay for housing.
- azinman2 2y agoThat literally does happen. Restaurants in places like SF close all the time because they cannot get enough staff since folks cannot afford to live here, and there are maximums the public are willing to pay for a given category of food.