Are rent-controlled appartments the evilest thing ever?

[Berzerker]

I thought rent control promoted slums and caused distortions in nearby real estate markets

[KrazyHorse]

It also promotes higher rents among those of us who aren't the rent-privileged.

**** rent control

[Uncle Sparky]

It also promotes higher rents among those of us who aren't the rent-privileged.

**** rent control

Where I live, the government dictates the % rates which are applied universally to all non-cooperative rental units. In other words, a 2% per annum increase would apply to a $3800/month suite as well as a $400/month bed/sit.

You really don't want to know what co-op housing is: it would hurt your capitalitz brains too much. I co-founded three co-ops that are all still operating - one will be 30 years old next year.

Solidarity forever, comrades!

[Egbert]

Workers of the world, unite.

[Kidlicious]

It's not their home, it's the landlord's. They're just renting it.

so they are homeless?

[Kidlicious]

It also promotes higher rents among those of us who aren't the rent-privileged.

**** rent control

Oh please. You would be happy to collect said rent. You are ridiculous.

[VetLegion]

Where I live, the government dictates the % rates which are applied universally to all non-cooperative rental units. In other words, a 2% per annum increase would apply to a $3800/month suite as well as a $400/month bed/sit.

You really don't want to know what co-op housing is: it would hurt your capitalitz brains too much. I co-founded three co-ops that are all still operating - one will be 30 years old next year.

Solidarity forever, comrades!

Co-ops are voluntary, aren't they?

Rent control is an involuntary social engineering scheme. It's a show of contempt
for both the landlords (evil capitalists) and tenants (cattle). It's not a solidarity
thing. You want solidarity, fine, do some transfer payments in cash.

If you bought the rent-controlled apartments and gave them to the poor,
they'd most likely sell them within a short period of time and move somewhere cheaper.

[Uncle Sparky]

It is also a breach of a rental agreement to for a tenant to sublet without the owner's approval. So the poor cannot sell or freely give away a rent controlled apartment. If they tried, the apartment would return to the owner. At that point, since there is no continuation of a rental agreement in place, the owner may raise the rates beyond the government recommemded rate.

[VetLegion]

I'm trying to say that giving/gifting the apartments to the poor would reveal their
true preferences. I believe most of them don't have an absolute preference to live
in the rent-controlled apartments. If the apartments were theirs they'd sell them
and move away.

[The Mad Monk]

Some of you need to see what happened with this in NYC.

...and I don't mean KH.

[Jon Miller]

I have heard terrible things about rent control apartments in NYC. That people rent them out to others, and others are glad to pay...

They basically just rewards 'first come, first serve' which is a pretty stupid thing to reward so highly.

JM

[Imran Siddiqui]

Indeed. It's like a valuable commodity that some people just luckily stumbled into. Why do people who want to have a high inheritance tax to spread weath argue in favor of rent control (IIRC, rent controlled apartments can be passed down)?

[Fake Boris]

It is clearly a much better idea to force a certain % of housing projects to be dedicated to affordable housing, or to help directly the poor.

I suspect that VetLegion's real concern is about helping the poor, though.

[Felch]

so they are homeless?

They are if they can't come up with rent money.

[Felch]