Re:California Approves Statewide Rent Control
by joshAg on Wednesday September 11, 2019 @10:12PM
(#20947102)
Sure some absolutely will, but there were enough paperclip maximizers relative to the total available rental units that a law limiting their maximizations had enough political will to actually pass through the legislature even though it's blindingly obvious that putting a limit on rent increases encourages all landlords to always increase rent by the maximum allowed.
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Re:California Approves Statewide Rent Control
by kelnos on Thursday September 12, 2019 @02:37AM
(#20948644)
If eligible landlords in SF all started raising rents by 7% per year, every year, the city would empty out. As much as housing is crazy expensive in SF, there's no way the market would bear those kinds of increases
Re:California Approves Statewide Rent Control
by mlyle on Thursday September 12, 2019 @02:40AM
(#20948656)
SF already has rent control, which limits most landlords to increasing rent at 60% of inflation.
Needless to say, costs are increasing faster than 60% of inflation... In turn, landlords are only willing to write leases at very high prices and the supply of rental units is even lower than it would be otherwise...