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California Approves Statewide Rent Control

nytimes.com

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Re: California Approves Statewide Rent Control

#11

Post by chaostheory »

tmh79 wrote: post #4

The real solution here is to build more housing, as high prices are a market signal of a shortage. While I support more unit creation more than I support rent control, in the current crises we need both. What I still can't get over is how much of CA land use politics is pure generational warfare, the olds vs the millennials, and it seems that the millennials are finally starting to win some fights.

> generational warfare, the olds vs the millennials

This is a good example of that. Rent control tends to benefit the older generation at the expense of younger people and families. It does nothing to solve the actual problem of lack of housing inventory.

Re: California Approves Statewide Rent Control

#12

Post by souprock »

Oh joy, politicians trying to get votes from the economically unaware. If you thought there was a housing crisis, just wait. It's going to be crazy.

Here is a different article, more tolerant of private browsing: https://www.forbes.com/sites/adammillsap/2019/09/04/more-ren...

Re: California Approves Statewide Rent Control

#14

Post by Kalium »

mc32 wrote: post #5

I wonder if they put in measures to make permitting easier for builders so we can actually get more housing built? I guess we’ll find out in some years whether rent control entices builders to build more or if it will depress the market for building (as it usually does) such that at some point we see people (families) bunking together ala Soviet housing solutions to demand.

I know people doing that in Berkeley already.

Re: California Approves Statewide Rent Control

#15

Post by roseway4 »

rubicon33 wrote: post #6

Ah, because it worked so well in SF to ease housing prices! So why don't we expand the program? Will never cease to amaze me just now inept politicians are.

SF's (and CA's) housing crisis has it's roots in NIMBY-ism and property tax policy. Both are intertwined and share proponents. Rent control is a bandaid, which isn't to say it's not needed as an emergency measure.

Re: California Approves Statewide Rent Control

#16

Post by melling »

tmh79 wrote: post #10
jseliger wrote: post #3

Finally, a novel and innovate solution no one has thought of before. What could go wrong? https://www.nytimes.com/2000/06/07/opinion/reckonings-a-rent...

To be clear, this is a 20 year old article, the literature on rent control has changed a lot since this was written. Basic economic consensus rn seems to be that rent control is a poor long term solution to rising housing costs but a necessary short term solution as the required supply shock wouldn't even be able to happen in the near term even if regulatory barriers are eased due to labor, construction, and land cos…

It’s a 20 year old story about rent control in San Francisco. So, we are talking about a long term problem?

“ A few months ago, when a San Francisco official proposed a study of the city's housing crisis, there was a firestorm of opposition from tenant-advocacy groups. ”

Re: California Approves Statewide Rent Control

#17

Post by mc32 »

rubicon33 wrote: post #6

Ah, because it worked so well in SF to ease housing prices! So why don't we expand the program? Will never cease to amaze me just now inept politicians are.

This reminds me of the approach dictators have to issues. Issue an edict or decree making the problem itself illegal. Problem solved!

Re: California Approves Statewide Rent Control

#18

Post by tmh79 »

souprock wrote: post #12

Oh joy, politicians trying to get votes from the economically unaware. If you thought there was a housing crisis, just wait. It's going to be crazy. Here is a different article, more tolerant of private browsing: https://www.forbes.com/sites/adammillsap/2019/09/04/more-ren...

Limiting rent increases to max 8% (what this bill encodes) is only going to affect maybe 1-3% of lease agreements annually. This isn't about vast controls of housing stock, it about limiting 20% rent spikes people experience.

Re: California Approves Statewide Rent Control

#19

Post by pitaj »

tmh79 wrote: post #4

The real solution here is to build more housing, as high prices are a market signal of a shortage. While I support more unit creation more than I support rent control, in the current crises we need both. What I still can't get over is how much of CA land use politics is pure generational warfare, the olds vs the millennials, and it seems that the millennials are finally starting to win some fights.

Rent control deters the building of more housing. It's literally part of the problem.

Re: California Approves Statewide Rent Control

#20

Post by Kalium »

tmh79 wrote: post #10
jseliger wrote: post #3

Finally, a novel and innovate solution no one has thought of before. What could go wrong? https://www.nytimes.com/2000/06/07/opinion/reckonings-a-rent...

To be clear, this is a 20 year old article, the literature on rent control has changed a lot since this was written. Basic economic consensus rn seems to be that rent control is a poor long term solution to rising housing costs but a necessary short term solution as the required supply shock wouldn't even be able to happen in the near term even if regulatory barriers are eased due to labor, construction, and land cos…

If I were to guess, this bill will likely be positioned as a long-term solution and the other bit where housing supply is addressed will go largely neglected.

Which is, coincidentally, an apt summary of San Francisco's housing policy for the past twenty years.

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