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OwlBot 2000 posted:Across the US, cities are becoming more crowded and more expensive. Low wages and gentrification are forcing many poor people to move out of neighborhoods their families have lived in for generations as housing costs rise. The proposed responses are varied, from tax breaks and subsidies for developers (a traditionally right-wing idea) to rent-control and construction of more public housing (from the left.) One of these proposals, rent control, is more controversial: many economists claim that it will distort housing markets, remove the incentive to develop and result in even LESS housing for the poor. Others contend that this is simply a bias of neoliberal economists against regulation, and that rent control works well if implemented in the right tome and place. What do you think, D&D? Is rent control a viable option for making life affordable for people getting priced out of their neighborhoods? No of course not, rent control has failed at it's purported goals in every place it has been implemented. You simply can't wave your arms to fix the problem that there are places that are extremely desirable to live and those there aren't- even in Cuba with massive amounts of market interference this has failed. It's also massively unfair for those who don't win the housing lottery. i am harry posted:I don't think we can discuss housing and rent control without also discussing the trend of hedge funds purchasing and managing large swaths of housing, or "government backed reverse mortgages", or civil forfeiture of houses to the police. Right, any successful implementation of rent controls would require a massive change in how are financial markets work and how homes are sold. In short rent control is catnip for low-info voters and its implementation is that of a noose rather than a tourniquet. See: San Francisco et al. Zeitgueist posted:I love how almost your entire post is listing how rent control is bad for landlords, which is basically the entire point of rent control. Landlords are like anyone else, they need to make a profit from taking risk or there is no point to taking risk. Do you expect your credit cards to not charge you interest? Does your bank give you loans for free? Look at all the silly things Islamic Banking does to get around the restrictions on it- not even god can stop it apparently. Likewise it is trivial to loophole around rent control, hence why it has never worked. And I thought the point of rent control was affordable housing, not sticking it to the 'man'. Enigma89 posted:New York has the mass transit but the not the right amount of housing quantity to really supply everyone. Prices are still rapidly going up and even people with decent jobs are being priced out to the outer areas like Bushwick. I remember when I first moved to New York, I couldn't afford to live in Manhattan as an intern so I lived in Brooklyn. What's really  is that there are people who will argue it was a bad thing that a dangerous area became a nice place to live.quote:I think the most depressing thing about bouncing around relevant world capitols is that even people who are well educated have 'given up' with ever trying to own an apartment or home in the city and are fine with the idea of renting for the rest of their life because the prices are just too obscene. As soon as you go into the interior of those countries things are a bit different and people see home ownership as a major goal. This isn't depressing at all, renting can easily be the smarter choice and it certainly is for nearly every young person, particularly if you are talking about city condos (might as well play the lotto).
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Oct 16, 2014 21:59
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EB Nulshit posted:Yes. Because there's a finite amount of space in the places people want to live. Additionally, the quantity demanded is not fixed- as you made housing more and more affordable more and more people would want to live there so you are fighting yourself. Like this thread really doesn't have to be endless studies- the very ideas behind rent control as typically implemented are entirely nonsense. e: the reason comparisons to minimum wage don't make sense is that min. wage is far below the tipping point at which you would clearly see market effects. Raise the min. wage to $30 / hr tomorrow and you'd see the same distortions that have occurred at every attempt to control housing. tsa fucked around with this message at 18:54 on Oct 20, 2014 |
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Oct 20, 2014 18:39
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