Re:California Approves Statewide Rent Control
by baby on Wednesday September 11, 2019 @09:51PM
(#20946939)
The supply problem has nothing to do with rent control.
Re:California Approves Statewide Rent Control
by JeffL on Wednesday September 11, 2019 @11:21PM
(#20947605)
Which is why rent control doesn't address the root causes of the housing problems, and in fact only makes things worse in the long run. It's just virtue signaling without regard to the results.
Re:California Approves Statewide Rent Control
by austhrow743 on Wednesday September 11, 2019 @10:56PM
(#20947422)
Rent control = less profit for building properties = less supply.
Re:California Approves Statewide Rent Control
by negrit on Thursday September 12, 2019 @04:56AM
(#20949421)
Lets be clear, the reason there is less supply is not rent control.
It's regulations and NYMBYs that prevents any new building with higher occupancy.
Re:California Approves Statewide Rent Control
by austhrow743 on Thursday September 12, 2019 @11:22PM
(#20958898)
Regulations and NIMBYs increase development costs.
Rent control reduces development revenue.
They both play a part in making building development less attractive, just from different sides.
The GP's point is that it gives equal chances to tenants to stay. New tenants do not benefit from rent control, they instead are hurt by the higher prices due to lower supply.