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Earlier quoted context omitted.
I'm going to predict that governments go this direction because of all the problems the housing market economy has caused.
Such as?
Oregon actually has pretty nice rental laws, strongly favoring tenants. This shows that continuing. Also 8/10 pictures from Oregon are going to have that hazy white color cool. It's always cloudy there.
Why do governments go this direction when it causes so many problems? In a market economy, which includes both housing construction and home rentals, price is the signal by which demand is measured. Rent control either eliminates or severely distorts that signal. I’m going to predict that:1) fewer new homes will be constructed and 2) rents will sky rocket where it’s possible (tenant turnover).
I think it's fair to say in a democracy most politicians are motivated by money or votes. There are plenty of people who probably see this as working in their favor.
> 1) fewer new homes will be constructed
Next usually comes the affordable housing bond because you're right, the private sector won't see it as a good investment.
Why do governments go this direction when it causes so many problems? In a market economy, which includes both housing construction and home rentals, price is the signal by which demand is measured. Rent control either eliminates or severely distorts that signal. I’m going to predict that:1) fewer new homes will be constructed and 2) rents will sky rocket where it’s possible (tenant turnover).
Here there was a proposal to do a couple hundred units of entry level apartments and people shit their pants about it. It was about a quarter mile from the already poorest part of the county and people actually went to the planning commission and said stuff about not wanting the poors around there. One landlord basically argued he didn't want the competition.
In the end the state subsidies fell through anyway.
Rent control is a bandaid that tries to fix fundamental systemic flaws and lack of planning by society. Problems: They do mention Oregon's land use laws. I didn't see it while skimming but (for west coast states) the land that is actually "state" instead of federal is also an issue (#1). However the biggest issue is that the Supply vs Demand curves for housing are simply insane. Demand is mostly dictated by jobs, and…
Another far less wonky solution to consider: public housing.
Rent control is a bandaid that tries to fix fundamental systemic flaws and lack of planning by society. Problems: They do mention Oregon's land use laws. I didn't see it while skimming but (for west coast states) the land that is actually "state" instead of federal is also an issue (#1). However the biggest issue is that the Supply vs Demand curves for housing are simply insane. Demand is mostly dictated by jobs, and…
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It's not a perfect system, but still today in Montréal you can get a $400USD 1 bedroom apartment in a good part of town, thanks to this system. It ensures that the working class can live near their occupation, and they don't have to commute from a slum neighbourhood outside the city. In many quartiers, you have the very poor and the very wealthy living side by side.
I believe absolutely rent-control (in tandem with a few other policies) has enabled Montréal to situate itself as a hotbed of creativity. We have one of the most dynamic and diverse art scenes in all of North America, and with a population on the island of Montréal still less than 2 million.
I definitely support this kind of legislation.
In Québec we've had province-wide rent control since at least the early 70's. Landlords are allowed to raise rent annually up to a certain percentage determined by inflation (last year, up to 2.5%). Rent raises can also be appealed to the housing board if they seem unfair, or if the landlord has not been keeping up with maintenance. Prices can go up if significant renovations occur (which they almost never do), but e…
I find that extremely hard to believe