Posted on 07/27/2018 9:33:12 AM PDT by SeekAndFind
Not long ago, I quoted Swedish economist Assar Lindbeck’s conclusion about the results of rent control. He wrote that in many cases, it “appears to be the most efficient technique presently known to destroy a city — except for bombing.” Lindbeck, however, seems to have missed an even better way to wreak havoc on major cities. It would be rent control combined with massive subsidies for renters.
Rent control dramatically limits the supply of new housing units by discouraging people from building new apartments and punishing landlords for offering them for rent by limiting the price they can charge. But if you throw in government rent credits, the results on the housing stock will be even more extreme.
This two-pronged approach not only limits supply, but it increases demand at the same time. So you have fewer apartments for rent and more people who want them. Rent control might be as effective as bombing, but this approach is the equivalent of carpet bombing.
Naturally, California’s progressive Democrats are now trying to put this scheme into place. The only hope is that the state’s voters reject a coming rent-control initiative and the U.S. Congress will put the kibosh on the new legislation that would give renters a federal tax credit.
California progressives have finally recognized the depth of the state’s housing crisis, as home prices and rents soar to obscene levels in the state’s most sought after urban areas, but their recognition of the problem comes with a price: they are likely to make things worse. The median home price in the entire San Francisco Bay Area has topped $820,000. It has topped $600,000 statewide, which is amazing given that those statistics include downtrodden and rural markets.
(Excerpt) Read more at spectator.org ...
Well, she is crazy...soooo...
Makes “sense” to Harris because she’s a Communist. You know, like all the ‘RATS now.
“California progressives have finally recognized the depth of the state’s housing crisis”
Caused by them. They were the ones who continue to promote mass immigration, while obstructing housing starts.
Result: too many people trying to get too few homes.
(with my sympathies for the Conservatives out there behind enemy lines)
In California they’re not letting anybody build anything new one way or other and that has more to do with greentardism than with rents. GIVEN that as a precondition, they almost have to have rent controls.
I did not think it was even possible to be even more stupid than Barbara Boxer, but Harris has convinced me.........................
This is the key passage:
[It’s pretty obvious what to do: Encourage more building by reducing the state’s land-use controls and other regulatory burdens to construction. But progressives have no clue about economics.]
“California’s progressive Democrats”. I promise you these people are the definition of :communist:. The left has tried to remove the :communist: from the political spectrum because ut is a pejorative but that does not take away from it’s reality. I go back further than most of you and when ever you see the taking of a producing citizen at the point of a gun and giving it to a parasite. it doesn’t matter if it is for votes or control ( same thing) , it is defined ‘communism” . This Harris woman is a communist.
As long as a plurality of voters remain uneducated and ineducable, it will be at least a partially winning platform.
And to think, Senator Feinstein’s opponent makes this lady look sane. Not to mention Lt. Governor Moonbat, who looks like a shoo-in to replace Moonbeam.
Caliph-phony-a is doomed. DOOMED, I tell ya!
I think the Democrats have come up with a contest to see who can define the craziest grab of taxpayer money.
More FREE stuff. We’ve gone from being the Land of the Free to the Land of the Free Stuff. No wonder everybody on the planet wants to live here.
Democrats recognize the problem, and the solutions is to turn California into Venezuela.
Last one out turn out the lights.
Rent control sounds good to a brain-dead public with its head up its anal exit passageway. Government keeps those evil landlords from making obscene profits.
Reality: rent control takes away the landlord’s rights. It is confiscation of private property. It is wrong. It destroys the person who owns property, and keeps other people from investing in property.
Read Thomas Sowell’s book: Basic Economics. Explains everything.
Well, first you need “flat, open space” near where people want to work and live.
But the coastal mountains, the coast itself, the bays and harbors and rivers, and interior mountains, and interior deserts pretty much limit the “flat, open spaces” to what is already developed.
But it’s even worse than that.
Then the enviro’s and liberals demand EVEN MORE limits be placed on what areas CAN BE developed, place EVEN MORE limits on what CAN BE charged, and allow EVEN MORE (illegals) to enter to get EVEN MORE (democrat) voters, and encourage EVEN MORE out-of-state immigration of welfare and freebies (500.00 per month of free money) to literally low-renters with no skills, and then add EVEN MORE restrictions and taxes on income producers (companies and manufacturing) and actual workers ....
What else do they actually expect to happen?
Election Season - The bi-annual democrat “Buying Of The Votes” begins.
It’s an unwritten, unspoken pact.
Democrats make a silent promise to give their designated victim groups a new taxpayer paid “freebie” in exchange for enough votes to put them in power.
Then they publish glowing articles about themselves and pat each other on the back at award dinners for being such great humanitarians.
never forget that the vast majority of legislators are failed lawyers.
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