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This may not be too popular, but subsidizing housing for the poor in Silicon Valley will drive up rents for the people in the middle who are not receiving the s
by nsnick 12y ago
This may not be too popular, but subsidizing housing for the poor in Silicon Valley will drive up rents for the people in the middle who are not receiving the subsidy.
- benten10 12y agoAnd besides, the subsidies would be crazyyy because of the existing prices. What would help those in need without affecting the prices is building/assigning/requiring certain percentage of new housing projects to include low-income housing (I've mentioned this elsewhere in the thread).
- orky56 12y agoThe problem with this is that the low-income housing portion will be artificially lower than market prices forcing the landlord to increase the rent on the other units to make up for it. Once again as the OP mentioned, the middle class gets squeezed out since supposedly market prices do not actually exist to be taken advantage of.
- refurb 12y agoThis is a great point. Rent control just shifts increasing costs to the newest arrivals. If you were lucky enough to arrive early, you get all the benefit (generally).