Re:Homelessness rises faster where rent exceeds a third of i...
by Aunche on Monday January 03, 2022 @02:35PM
(#29785347)
>And instead cling to things like rent control, which "feel good" in the short run but end up doing the opposite of what was intended.
I'm not sure if there is a better term for it but people are highly susceptible for falling for a "it's your fault because you touched it last" bias. Luxury apartments are "bad" because their rents are high, even though they alleviate demand for regular housing. Evictions are "bad", even though the alternative is for landlords to factor that risk into the price or require very good credit and a stable income.
It's not just with housing either. Everyone loved student loans until they enabled colleges to raise their tuition prices. Now people are demanding the government to throw even more money at the problem with student loan forgiveness, which increases people's willingness to pay and would enable colleges to raise tuition even more.
I'm not sure if there is a better term for it but people are highly susceptible for falling for a "it's your fault because you touched it last" bias. Luxury apartments are "bad" because their rents are high, even though they alleviate demand for regular housing. Evictions are "bad", even though the alternative is for landlords to factor that risk into the price or require very good credit and a stable income.
It's not just with housing either. Everyone loved student loans until they enabled colleges to raise their tuition prices. Now people are demanding the government to throw even more money at the problem with student loan forgiveness, which increases people's willingness to pay and would enable colleges to raise tuition even more.