With the referendum approaching, the debate over rent control is heating up in California. This video is pretty balanced in showing both sides. There are some memorable quotes, like "social security and pension plan would not pay the market rent, so I just wouldn't eat." I guess this guy values … [Read more...]
Rent Control Part 3: Mobility, Regional Growth, Development and Class Conflict
Part One of this series was a refresher on the Microeconomics of Rent Control and touched on how it encourages hoarding Part Two discussed rent controls influence on the black market for apartments, rental property deterioration and housing discrimination. Here in Part Three, we will discuss how … [Read more...]
A Recipe to Destroy Affordability in Any City.
Austin Contrarian discusses an article that describes how Seattle has become less affordable in recent years. He prescribes a recipe for Austin to become what he calls a "Superstar City" such as New York, Boston, San Francisco, or Seattle. By "Superstar City", I assume he means an ultra-hip place … [Read more...]
LA’s New Housing Rules Band-aid the Symptoms, Exacerbate the Problem
LA Times: Los Angeles limits 'mansionization,' downtown hotel conversionsReason: In Soviet Los Angeles, Housing Affordables You!LA's City Council voted unanimously to treat the symptoms of the City's gentrification problem by restricting property owner's right to improve their … [Read more...]
Investment firms try to de-regulate apartments. Are they so evil?
Phasing out rent-regulation may hurt a bit, but in the long-run regulation has done more damage than good. Along with loosening zoning restrictions, freeing up apartments to market rents will help lessen the housing shortage citywide.New York Daily News: Tenants say rent-regulated apartments … [Read more...]