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"we cannot force the cost of living to drop" That's exactly what rent control does. I guess it's ok to not even try to make an argument on HN these days.
by throwaway9324 12y ago
"we cannot force the cost of living to drop"
That's exactly what rent control does. I guess it's ok to not even try to make an argument on HN these days.
- scott_karana 12y agoRent control doesn't force the cost of living to drop: it just shifts it. The ROI on apartments drops substantially, so investors aren't incentivized to make new buildings, but instead maintain their current ones as cheaply as possible until they're unserviceable.
- throwaway9324 12y agoIt does for the people being discussed.
- scott_karana 12y agoNot necessarily. A poorly maintained, older building may have worse heat insulation or vapour barriers, or problems with mold, or simply less efficient fixtures than modern buildings. Energy and healthcare bills can be substantial, and are borne by the tenants, not the landlords. What you're really describing is a lower standard of living, not merely a lower cost of living.
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- emodendroket 12y agoThere is nothing about not having rent controls that prevents this from happening.