Re:California Approves Statewide Rent Control
by kortilla on Friday September 13, 2019 @02:32AM
(#20959729)
>The housing market does not follow a standard supply-demand curve for a number of reasons.
That would make it the first in history. Extraordinary claims require extraordinary evidence.
>Rent control has helped a lot of people find stability in a time of need
So has the lottery. Doesn’t mean it’s not bad overall. The massive portion of people that don’t hit the rent control lottery (I.e. anyone who has to move) get screwed and the whole middle and upper class gets screwed by a poorly incentivized supply.
>Is this a real effect that you can measure in the real world?
Yes. Look at any place where there is rent control and you will find it still has unaffordable prices often far above the national average. It has never been a net good for society. It doesn’t increase housing supply and the pigeon hole principle should be simple enough for you to understand what that means.
That would make it the first in history. Extraordinary claims require extraordinary evidence.
>Rent control has helped a lot of people find stability in a time of need
So has the lottery. Doesn’t mean it’s not bad overall. The massive portion of people that don’t hit the rent control lottery (I.e. anyone who has to move) get screwed and the whole middle and upper class gets screwed by a poorly incentivized supply.
>Is this a real effect that you can measure in the real world?
Yes. Look at any place where there is rent control and you will find it still has unaffordable prices often far above the national average. It has never been a net good for society. It doesn’t increase housing supply and the pigeon hole principle should be simple enough for you to understand what that means.