News for hackers. Stuff that matters.

A comment on US Housing Affordability Hits Worst Point in Nearly Four Decades. Parent comment

Re:US Housing Affordability Hits Worst Point in Nearly Four ... by whimsicalism on Thursday August 24, 2023 @01:31PM (#37251952)
Not in California, where the rent increases are limited in the vast majority of units (pretty much anything built before 2007) :)

I agree that this has an absolutely massive chilling effect on leasing & building, given that, reasoning from the past, any new development is almost certain to be subject to rent control within 20 years at most. I've never lived in a state nuts enough to have state-wide rent control before, it's interesting.

[ Parent | on HN ]
Re:US Housing Affordability Hits Worst Point in Nearly Four ... by seanmcdirmid on Thursday August 24, 2023 @04:25PM (#37254089)
Well, they have property tax control as well so it isn’t surprising. But ya, rent control sucks in that it picks a few winners to the detriment of everyone else. Great for stability if you win it, but getting in is super hard. California still could stand to lose a few million people, maybe that’s their intention.
[ Parent | on HN ]