Government is the problem, not the solution. .RR
Other than anecdotes, short-term reactions and logical reasoning, anyone know of a rigorous study that indicate rent control causes higher house prices than without rent control over a long period of time?
Rent control only helps the few at the expense of the many…
Not whether house prices go up or down. That’s not the goal of rent control anyway. The issue is, do we have more or less rental housing supply and thus lower or higher rent? The answer is no. Rent control reduces rental housing supply, and thus hurts “future” renters.
The “future” qualifier is key. People already living in a rental apartment benefits from rent control. It’s people who will be coming in, who are looking for apartments that get hurt. That’s nativist protectionism sorta like restricting immigrants to benefit locals.
Like Nimbyism benefiting existing home owners like us
And even with rent control, i don’t think it’s that difficult for big investor to evict these people out. I think i remember East Palo Alto some big apartment got sold to new owner and evicted them all out for remodeling. Then gentrify that area. I think that was couple yrs back , please correct if i’m wrong.
theoreticlaly rental housing will not exist if you limit rent to zero. Nobody will build new rentals and nobody will want to buy and maintain rentals
Right. Except for the home owners who are also landlords. People often assume homeowners and landlords have their interests in line. But in fact it’s not true. Any long term thinking landlords would agree NIMBY’s are bad for business.
Then they have a loophole in the code. In SF you have to pay tenants hotel fees and crap to remodel your building. It’s up to the pitchforks how fast they want to kill us.
Granted she was stupid, but that recent SF owner got fined for 2.4M for doing all kinds of bad things to her tenants. You gotta be careful, especially in the Fab 7x7 where there is a very pro rental class.
The whole premise for needing rent control is buying is too expensive. If buying was cheap, then no one would care about prices to rent. People arguing for rent control are so discouraged that they believe they’ll never be owners. That’s why they only care about controlling rents.
Update on Mountain View…
It is interesting how rent control protects current residents at the expense of future ones. The result is only high-income people will move to the place. That’s only going to drive up pricing even further. Maybe they don’t care if they keep the same job, and their rent controlled place is near work. What happens if they change employers and face a long commute? They can’t move, since rent would be far more expensive than their current rent controlled rate. It’s an odd scenario where home owners move more freely and frequently than renters.
The whole rent control mess is from government building restrictions…Allow the market to build for the demand, problem solved…
Everyone is worried that if you let the market dictate the building that we would end up like Hong Kong. I just don’t see it. Not everybody is going to sell out, especially if it is a desirable area/city like say the Fab 7x7. The thing is, where would people go anyway. Shoot, I can’t even find a replacement property now, so what happens, I sit. I’ve said it before, the analogy is the guy who says oh I don’t want to get too muscle bound by working out. Look, dude, chances are Dwayne Johnson (The Rock) needn’t worry about your muscles at this point so let’s not worry about it just yet ok??? Something about the cart before the horse…
Hong Kong’s land ownership is monopolized by the government. Their super high housing price is caused by government and dense population.
America has private land ownership but the zoning regulations keep pushing up housing price.
High housing price is mostly caused by the government.
The save the bay movement started in the 60s started a rabid anti growth movement…The nimbyies will say or do anything to stop growth…It doesn’t matter what the project is there will be rabid knee jerk anti growth groups in your face. …No wonder builders flee the Bay…The nimbyies always use Manhattan or Hong Kong as the boogey man…But Manhattan is one of the most desirable places on earth for many…
So they want people to be slumlords?
“Only 19 exemptions have been granted in San Francisco in the past 20 years, while 35 have been granted in just the past six years in Oakland, according to the report.”
These are very very small numbers. Does it really matter that 19 or 35 rent controlled units have been lost over 6 years?
Reminds me of another article I read earlier. The ellis eviction issue in San Francisco is extremely exaggerated. The actual number of ellis eviction cases is very small compared to the number of apartments, but all the activists and news media are painting a stark picture like the sky is falling.