So if a new apartment comes on the market in SF (never gonna happen, I know) what rental rates can they start with? Whatever they want?
California Approves Statewide Rent Control
461–470 of 1001 posts
Re: California Approves Statewide Rent Control
#462One thing I have noticed as I have become more aware is that many of our laws are aimed at trying to freeze a moment of time, often by piling on contradictory policies on top of each other. Subsidize home loans Ban new construction Ban rent increases It is no wonder why housing prices/rents continue to rise in these markets. In software engineering sometimes conclude that a rewrite is necessary. How can we completely…
A reset could be after the big one hits and we have to rebuild cities.
Re: California Approves Statewide Rent Control
#463Earlier quoted context omitted.
You having problems reading your past posts? You just basically said evil Republicans are blocking common sense housing solutions and indicated the solution is an even greater proportion of Democrats but then said that a Democrat blocked it and their numbers don't matter.
Could you quote the part where I said Republicans were blocking things?
"The fewer Republicans" et al
Re: California Approves Statewide Rent Control
#464I am a landlord in Oregon, but not California. The curious, although ultimately predictable, outcome of the new rent control measure in Oregon is that while I have historically had an arrangement with my property management to be restrained in annual rent increases, they are now advising a default annual increase of the maximum allowed (7 percent before inflation). This is because larger adjustments cannot be made if…
Landlords who choose to increase rents at the maximum rate permitted each year do so at the risk that they will be undercut by competing property owners who do not do so. Given this, I think that your property management company is offering you bad advice. Most landlords already increase rents at the maximum rate that the market will bear. Capping annual increases at 7% just ensures that in a year when the market wou…
There's not much risk to it. Sure, others could undercut you, but when you see that happening you're free to lower the rent and have a tenant again.
Re: California Approves Statewide Rent Control
#465There is no functioning market to begin with. Housing prices and rent are through the roof in California, yet supply is not rising to meet demand, largely because existing owners oppose new construction. Turnabout is fair play. If owners organize politically to control supply, tenants can organize politically to control prices.
That seems like a really clumsy way of pretending to be in a free market.
Re: California Approves Statewide Rent Control
#466One thing I have noticed as I have become more aware is that many of our laws are aimed at trying to freeze a moment of time, often by piling on contradictory policies on top of each other. Subsidize home loans Ban new construction Ban rent increases It is no wonder why housing prices/rents continue to rise in these markets. In software engineering sometimes conclude that a rewrite is necessary. How can we completely…
"In software engineering sometimes conclude that a rewrite is necessary. How can we completely rewrite our regulations?"
A currency collapse or a successful invasion perhaps.
Even 'freezing a moment of time' is kind of a suspicious thing. People don't understand the present time and they sure as heck don't understand previous ones.
While fixing the plane while it's in flight is hard, I'm trusting our upcoming robot overlords to understand tax or criminal law. Accreting everyone's good ideas for a century or two was bound to result in a hairball.
Re: California Approves Statewide Rent Control
#467I'm shocked at the ideological fervor here and the fact that virtually no one seems to have looked at the details of the actual bill. This is nothing like the rent control ordinance in SF that has caused $3000 units to get stuck at $500 rents. That will never happen under this law. The allowable increases are so much higher than "normal" rent control laws that any given unit will catch up to market rates in a matter…
The rent control laws in NYC aren't even nearly as bad as SF, despite how much they get demonized here on HN. In NYC units that might be _actually cheap_, as in rent controlled and not stabilized, number roughly 17k units _in total_. And only about 1/3 of those are significantly below market or in desirable neighborhoods. It's almost insignificant and the number of rent controlled units has gone down by roughly HALF…
The rent control laws in SF aren’t even as bad as HN comments would have you believe.
Rent control doesn’t apply to new construction in SF. It also allows a regulated annual increase, and rent automatically jumps back up to market upon a number of different conditions - not the least of which is that the owner can push you out to renovate the building!
HN commenters are usually just repeating stuff they heard somewhere, and have no idea what the laws actually say.
Moreover, while there are indeed lots of publications on the theoretical impacts of rent control, few of those publications consider laws as they actually exist, or if they do, the scope of the impacts is rarely communicated when translated into HN talking points. Every study I’m aware of has shown, at worst, diffuse, long-term negative impacts to housing costs. Meanwhile, many of them do exactly what they set out to do: stabilize short-term prices for vulnerable populations.
These laws are simply not the boogeymen that comments here make them seem.
Re: California Approves Statewide Rent Control
#468Earlier quoted context omitted.
That’s FUD. It works great in other countries and if strict can give equal chances to tenants no matter your background.
The US economy is the driver of the world economy, and has been for quite some time and it's why we see so much innovation of entire new sectors in the US. (Yes, you can see sustained higher growth for a time in some other places, like China, because starting from a lower level allows for piggybacking in the same way the US economy grew with regard to Europe in the 19th century.) The reason mature European economies…
ycombinator, where standard econ theory gets downvoted by people who've never taken econ. Here's a challenge, explain the history of the US stock market vs world stock markets and US venture capital vs world venture capital better than I did.
Re: California Approves Statewide Rent Control
#469There is no functioning market to begin with. Housing prices and rent are through the roof in California, yet supply is not rising to meet demand, largely because existing owners oppose new construction. Turnabout is fair play. If owners organize politically to control supply, tenants can organize politically to control prices.
Let's just not even talk about the fact that regulation is the reason why housing is scarce, let's just assume California is 100% at capacity. How the hell does rent control increase turnabout? It just let's people who got in at the right time have their status as a resident enforced indefinitely, when there are plenty of people who are willing and able to pay far more in order to live there.
Many parts of California are already beyond 100% capacity for certain pieces of infrastructure like transportation, schools, water, and sewers. So I only support more housing in those areas if building permits are directly coupled with equivalent infrastructure upgrades.
Re: California Approves Statewide Rent Control
#470I am a landlord in Oregon, but not California. The curious, although ultimately predictable, outcome of the new rent control measure in Oregon is that while I have historically had an arrangement with my property management to be restrained in annual rent increases, they are now advising a default annual increase of the maximum allowed (7 percent before inflation). This is because larger adjustments cannot be made if…
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