Posted on 04/24/2019 5:53:18 AM PDT by reaganaut1
“More States Are Pursuing Rent Control. That’s Bad News for Landlords.”
even worse news for renters, since it’s a financially losing preposition to keep properties in good condition as well as to build and own additional properties ...
This is very true. Rents rise because of rent control. In San Francisco there are anywhere from 15,000-30,000 vacant apartments at any one time. Hard to believe in a city the size of a postage stamp but true.
Socialism eliminates incentive to excellence. The first casualty is the profitability of rental properties, but the second casualty is any plans by landlords to upgrade their facilities. And the third casualty is maintenance.
How do they intend to measue the "local " inflation rate? 7% might seem ok now but should the national inflation rate quickly shoot thru the roof like it did in the 70's, well not so much. I've seen condo maintenance fees double in 3 short years at a few places, so no, keep the gov out of that stuff.
Free markets work. They allocate resources, promote investment and require no state bureaucracies. I sure wish someone would do a study of the cost of policing these regulations. I bet it is more than the added cost of free market rent. Rents could even get lower.
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