4 ms·
> I hate rent control, but I think it's a symptom of incumbents' unwillingness to allow more development, No. It began in SF as a very-specific response to Pro
by muzz 12y ago
> I hate rent control, but I think it's a symptom of incumbents' unwillingness to allow more development,
No. It began in SF as a very-specific response to Prop 13, which is essentially property-tax-control
Both are bad policies in terms of market distortion and are often the overlooked elephants in the room in discussion of housing supply and affordability.
- anigbrowl 12y agoWhat? Rent control did not originate in San Francisco, and has been around a lot longer than Proposition 13. Its history in modern economics goes back to world War 1, and the concept of economic rents and the need to regulate them originates with Adam Smith in the 18th century. http://en.wikipedia.org/wiki/History_of_rent_control_in_England_and_Wales#1915_to_1939 http://en.wikipedia.org/wiki/History_of_rent_control_in_Engl...