Woolfsmck 2,763 Posted January 14, 2019 Share Posted January 14, 2019 https://www.yahoo.com/finance/news/research-details-rapid-increase-homelessness-certain-u-s-cities-190205600.html Interesting how they correlated rental rates with homeless population. Another study shows that property "taxes" had a direct affect on rental rates as long with supply and demand of available living spaces. Rent control has been proven to lower the quality of upkeep and safety of affected housing "projects" as well. I wonder if Trump or Congress will fight about this issue or if either even care at all ? like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Phlop 4,773 Posted January 14, 2019 Share Posted January 14, 2019 I’m technically homeless too cuz I can’t afford property and couch surf BYE Link to post Share on other sites More sharing options...
Economy 53,072 Posted January 14, 2019 Share Posted January 14, 2019 Rental controls here in Ontario discouraged new rental apartment projects and the shortage for rental purpose housing is even worse than general houses and condos It backfires. Don't do it!!!! I think British Columbia also either has the same nonsense or were talking about doing it Link to post Share on other sites More sharing options...
AJRocketMan 2,684 Posted January 14, 2019 Share Posted January 14, 2019 Isn’t rent control the idea of keeping apartment rental rates from getting too expensive? Why is this a bad thing? Link to post Share on other sites More sharing options...
Economy 53,072 Posted January 14, 2019 Share Posted January 14, 2019 2 minutes ago, AJRocketMan said: Isn’t rent control the idea of keeping apartment rental rates from getting too expensive? Why is this a bad thing? People just don't seem to understand that when u manipulate or interfere with the free market often there's unintended consequences even when there's good intentions Rent control can do one of several things: - discourage construction of rental purpose building because there's less profitability in it and it removes supply. We've had that same issue here in Ontario - If utilities or land taxes etc rise faster than rent control allows and land lord has a harder time making profit, it could discourage him/her to maintain the place as good (not all land Lords are rich some need the extra income to help with mortgage etc) - the land lord could try to find a legal excuse to kick people out or not renew contract if market prices for new rentals rise faster than you can rise them for existing tenants and so people could get kicked out more often to be replaced with new tenants While I'm not very right winger this is also why I'm not too left. Extreme liberals never want to recognize that a lot of their regulation policies that may have the intention of helping have unintended consequences that often make the situation worse Trust me we have rental controls here in Ontario and things are not pretty at all. Link to post Share on other sites More sharing options...
LordEnigma 11,313 Posted January 14, 2019 Share Posted January 14, 2019 11 minutes ago, Economy said: People just don't seem to understand that when u manipulate or interfere with the free market often there's unintended consequences even when there's good intentions Rent control can do one of several things: - discourage construction of rental purpose building because there's less profitability in it and it removes supply. We've had that same issue here in Ontario - If utilities or land taxes etc rise faster than rent control allows and land lord has a harder time making profit, it could discourage him/her to maintain the place as good (not all land Lords are rich some need the extra income to help with mortgage etc) - the land lord could try to find a legal excuse to kick people out or not renew contract if market prices for new rentals rise faster than you can rise them for existing tenants and so people could get kicked out more often to be replaced with new tenants While I'm not very right winger this is also why I'm not too left. Extreme liberals never want to recognize that a lot of their regulation policies that may have the intention of helping have unintended consequences that often make the situation worse Trust me we have rental controls here in Ontario and things are not pretty at all. What would be a good compromise? Link to post Share on other sites More sharing options...
JazzGa 14,654 Posted January 14, 2019 Share Posted January 14, 2019 Lol, Ben Carson is in charge of federal housing projects and we all know he is currently taking a nap in the middle of an important brain surgery. We have about as much hope of homelessness being addressed by this administration as we have of Carson doing a backflip. My old cat is a tough man, but i cant deny the way he bites my hand and he stabs me, he grabs me by my heart <3 Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted January 14, 2019 Author Share Posted January 14, 2019 1 hour ago, AJRocketMan said: Isn’t rent control the idea of keeping apartment rental rates from getting too expensive? Why is this a bad thing? Like Evonomy says, cause and effect. Simply holding rental rates down doesn't address the costs associated with the owner..i.e. building repairs plumbing/electrical repairs. Buildings age and deteriorating to the point of very costly repairs. Housing authority inspectors have been bribed to overlook safety concerns for the tenants as well. Then you can look at the demographics of the tenants who can only afford rent control housing and are that crime rates and welfare reciepient(dependent) segments dominate keeping the general law abiding types away. Which costs the city and state additionally with increased welfare payouts and police presence. A balance would be reducinging corruptions and spend happy policies that cause the need for tax increases. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Emvee 8,858 Posted January 14, 2019 Share Posted January 14, 2019 1 hour ago, Economy said: People just don't seem to understand that when u manipulate or interfere with the free market often there's unintended consequences even when there's good intentions Rent control can do one of several things: - discourage construction of rental purpose building because there's less profitability in it and it removes supply. We've had that same issue here in Ontario - If utilities or land taxes etc rise faster than rent control allows and land lord has a harder time making profit, it could discourage him/her to maintain the place as good (not all land Lords are rich some need the extra income to help with mortgage etc) - the land lord could try to find a legal excuse to kick people out or not renew contract if market prices for new rentals rise faster than you can rise them for existing tenants and so people could get kicked out more often to be replaced with new tenants While I'm not very right winger this is also why I'm not too left. Extreme liberals never want to recognize that a lot of their regulation policies that may have the intention of helping have unintended consequences that often make the situation worse Trust me we have rental controls here in Ontario and things are not pretty at all. I am a leftist. I believe we need regulation. But, I have never seen a good explanation or argument against the idea that rent control disincentivizes new construction. Rent Control is a band aid for a gushing wound. Having said that, rent is not going to magically go down just because rent control is taken away. Developers are also not going to suddenly start constructing affordable housing out of the goodness of their hearts. The free market doesn’t work like that. The free market will squeeze as much profit out of renters as long as there’s demand and demand in those key cities is not going to go down anytime soon. Government needs to have a hand in either pushing for more construction that is affordable or making sure people in those cities have a wage that can sustain the cost of living. Link to post Share on other sites More sharing options...
Economy 53,072 Posted January 14, 2019 Share Posted January 14, 2019 Just now, Postboy said: I am a leftist. I believe we need regulation. But, I have never seen a good explanation or argument against the idea that rent control disincentivizes new construction. Rent Control is a band aid for a gushing wound. Having said that, rent is not going to magically go down just because rent control is taken away. Developers are also not going to suddenly start constructing affordable housing out of the goodness of their hearts. The free market doesn’t work like that. The free market will squeeze as much profit out of renters as long as there’s demand and demand in those key cities is not going to go down anytime soon. Government needs to have a hand in either pushing for more construction that is affordable or making sure people in those cities have a wage that can sustain the cost of living. I never said they would start building out of the goodness of their heart. Their in it for the profit and that's my point When you put limits on how much they can raise rent your putting limits on their potential profits thus hurting incentive to build rentals As I said we saw that first hand here in Ontario/Toronto All rentals built after the 1990s are subject to rental controls and what we've seen is much less construction for rentals and instead they build more condos which if they are to be rented it has to be by an individual landlord and individual rented out condos are less affordable than rental purpose built housing/apartments I just think this is doing more harm than good If he had more supply I don't think rents would be skyrocketing as much as they are. Link to post Share on other sites More sharing options...
Pacify Him 9,073 Posted January 14, 2019 Share Posted January 14, 2019 Because we simply can’t stop letting in too many illegal immigrants I’m getting on your nerves Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted January 14, 2019 Author Share Posted January 14, 2019 13 minutes ago, Postboy said: I am a leftist. I believe we need regulation. Having said that, rent is not going to magically go down just because rent control is taken away. Developers are also not going to suddenly start constructing affordable housing out of the goodness of their hearts. The free market doesn’t work like that. The free market will squeeze as much profit out of renters as long as there’s demand and demand in those key cities is not going to go down anytime soon. Government needs to have a hand in either pushing for more construction that is affordable or making sure people in those cities have a wage that can sustain the cost of living. Explination# Developer entrepreneur has 100 smakers to invest... His accountants shows him the estimates for return on those 100 smakers..... Affordable housing regulated to the point the is very low 'profit' to do so discourages that type of investment. Might as well use those 100 smakers on a different route to make more ... hence regulations discourage new housing. Lack of regulation causes exploitation of the tenants as well. A balanced approach to encourage the general construction industry would help the supply side . Demand will vary by region and circumstsnce. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted January 14, 2019 Author Share Posted January 14, 2019 2 minutes ago, Pacify Him said: Because we simply can’t stop letting in too many illegal immigrants Immigration is only a small percentage of the total population tho. Illegals tend to over habitate, Family of 4 in a one bedroom.. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,072 Posted January 14, 2019 Share Posted January 14, 2019 1 hour ago, Alexander Levi said: What would be a good compromise? I think laws that protect tenants such as minimum standards (like temperature for example), or laws that come up with forms of mistreatment or abuse to try to prevent is one thing... But prices is not something that should be touched at all... Supply and demand is the most basic law in economics that has been around long before the modern economy, try to mess with that and it's always disaster Venezuela is a perfect example... They have been trying to put price controls on things and that made the situation worse... It created a shortage of products by not letting seller charge what they need to charge to make importing a good profitable so many things simple aren't available With housing, if rents go up it's because demand is outstripping supply (or landlord costs are getting to high to encourage renting a part of their home or entire home)... Try to put a cap on what they can charge and u discourage more supply coming online by reducing incentive for construction of rental purpose housing or by not enticing as many landlords to rent out part of their home for example Prices move for a reason, it's never a good idea to try to control it Link to post Share on other sites More sharing options...
Eighteen 5,430 Posted January 14, 2019 Share Posted January 14, 2019 2 hours ago, Economy said: People just don't seem to understand that when u manipulate or interfere with the free market often there's unintended consequences even when there's good intentions Rent control can do one of several things: - discourage construction of rental purpose building because there's less profitability in it and it removes supply. We've had that same issue here in Ontario - If utilities or land taxes etc rise faster than rent control allows and land lord has a harder time making profit, it could discourage him/her to maintain the place as good (not all land Lords are rich some need the extra income to help with mortgage etc) - the land lord could try to find a legal excuse to kick people out or not renew contract if market prices for new rentals rise faster than you can rise them for existing tenants and so people could get kicked out more often to be replaced with new tenants While I'm not very right winger this is also why I'm not too left. Extreme liberals never want to recognize that a lot of their regulation policies that may have the intention of helping have unintended consequences that often make the situation worse Trust me we have rental controls here in Ontario and things are not pretty at all. we have rent control in areas of honolulu. it can work if done the right way. it does here. Link to post Share on other sites More sharing options...
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