Rent control isn't the solution to everything. If housing is consistently available at a discount to market price, it will fill up and stay full. New entrants to the housing market, such as the younger generation, are still screwed.
It could work if the city is constantly building enough new housing -- but if the city has the will to allow that, they wouldn't have needed rent control.
Rent control isn't a solution at all. It's just a lottery to pay for some people lucky enough to get it.
Not if there isn't significantly more demand that supply. Rent control has worked well to mitigate housing issues in Paris during the last few years. It didn't solve everyone's problems: more and more students are moving to the close suburbs, and getting an apartment can be highly dependant on whether your landlord deems your income stable enough. But it has also prevented rent escalation - which we're currently seeing now that a court has repealed rent control [1].
[1] https://www.lemonde.fr/logement/article/2017/11/28/apres-lil...
Re:Stripe to donate $1M to California Yimby
by JamesBarney on Friday May 04, 2018 @01:45PM
(#16996556)
The problem is it works in the short term, but makes the problem much worse in the long term. It reduces the returns of future apartments, so fewer apartments are built.
Yes, real estate prices are heavily inflated but you can rent for a decent price in both of those metropolitan areas. I would find it very difficult to believe 70% of the population around the GTA can not afford to live where they are.