From Rationalitate - The WaPo finally realizes the root cause of the subprime crisisAgencies like FHA and HUD, and pseudo-private agencies like Fannie Mae and Freddie Mac, were the government's tool to manipulate the market for mortgages, and manipulate it they did: 40% of all mortgages are … [Read more...]
Want Density? Turn the Free Market Loose
Matthew Yglesias - What Price Density The solution, as Ryan Avent says, is to build denser communities. We ought to build more transit infrastructure, of course, but it's cheaper to use what we already have more intensively. And, of course, it's more practical to build new infrastructure if there's … [Read more...]
Over 200 Illegal Hotel Buildings in NYC
From AMNY: Report: 200 illegal hotels exist in the cityThere are more than 200 apartment buildings in the city that have been illegally converted to hotels, according to a report released Sunday, significantly reducing the number of rent-stabilized units available. ... Illegal hotel operators … [Read more...]
Rent Control Part 4: Conclusion and Solutions
Welcome to the final post in the series discussing the consequences of rent control. Thank you to the subscribers who have patiently awaited each new post. I hope everyone found it enlightening. If you haven't read the entire series, you can catch up with these links: Rent Control Part One: … [Read more...]
Video: Both Sides of Proposition 98
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...]
Rent Control Part 2: Black Market, Deterioration and Discrimination
With New York's new Governor's rent subsidized by his landlord and California debating the best ways to end rent control through Proposition 98, I thought it was a good opportunity to discuss the negative aspects of rent control.This post is the second in a four part series on the rent control. … [Read more...]
Rent Control Part 1: Microeconomics Lesson & Hoarding
This post has been released as the first in a four part series: Rent Control Part One: Microeconomics Lesson and Hoarding Rent Control Part Two: Black Market, Deterioration, and Discrimination Rent Control Part Three: Mobility, Regional Growth, Development, and Class Conflict Rent Control Part … [Read more...]