Posted on 07/28/2017 8:43:11 AM PDT by Mariner
With Sacramento rent increases among the highest in the nation, activists filled the City Council chambers this week to demand rent control and organized a Thursday protest at a Mack Road apartment complex where they say tenants are getting forced out.
But they face a rent control skeptic in Mayor Darrell Steinberg.
The mayor told The Bee on Thursday he has “significant concerns” about rent control, saying the city should focus more on finding money for affordable housing and giving tenants additional notice when rents increase. Steinberg said he isn’t outright dismissing rent control, but he’s worried about the “unintended consequences” of discouraging developers from building housing.
Several recent reports have highlighted Sacramento’s rising rents, including one this week that said the 9.9 percent average increase in Sacramento over the past year was the highest in the nation. The city has a vacancy rate around 2 percent for rental properties, the mayor said, contributing to high demand.
Steinberg said much of the issue stems from the fact that Sacramento “is not building enough housing.”
“We need to change that and be very aggressive about it,” he said.
(Excerpt) Read more at sacbee.com ...
Disaster awaits the poor, because all these folks are helping them out.
California... what a great place not to live.
HA HA - sure. have government rig the market. It always works!!
Yes, it will solve the crisis.
By turning it into a DISASTER.........................
ROFL
O
F
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Government price controls always reduce supply.
“rent control” does not solve the problem. It interferes with the free market. Government does not have the right to fix any prices at all.
No.
Rent control reduces the profitability of rental properties. Owners of residential rental properties will sell out to owner occupants, reducing the availability of rentals. That will cause rents to escalate. Supply and demand.
Sure, why not? Isn’t that always the Leftist solution? When government’s social/economic programs fails as they always do, the Leftist solution is, of course, MORE government.
“Stupid is as stupid does.”
Deport the millions of illegals in Kalifornia - problem solved (and many others too).
What’s that old line about being doomed to repeat history?
Well, sure! Just like communism, it's worked everywhere it's been tried.
The poor will no longer have to worry about high rents with rent control because there will be less housing available.
Rent control reduces the supply of housing. Great for the lucky few who have a place not so much for everyone else.
Kind of like the minimum wage. Less jobs but, hey, the ones who were not fired are making more.
They call them different things, rent control, livable wage, etc. but they are all just govt price controls. Price controls never work and always have unintended consequences.
Someone in Sacto isn’t going in a very wide circle to do their research.
They need to check the housing purchase & rent increases in the past year in Reno area. AVERAGE price of a home sale in Reno is over $355,500. In Sparks-$330,763. One ‘contractor’ is building ‘TINY HOUSES’ of 600-710 sq feet & selling them for $220,000. Cannot get them built fast enough.
Sacto is reaping the crop0 they planted with all the illegals & crime.
Someone in Sacto isn’t going in a very wide circle to do their research.
They need to check the housing purchase & rent increases in the past year in Reno area. AVERAGE price of a home sale in Reno is over $355,500. In Sparks-$330,763. One ‘contractor’ is building ‘TINY HOUSES’ of 600-710 sq feet & selling them for $220,000. Cannot get them built fast enough.
Sacto is reaping the crop0 they planted with all the illegals & crime.
How many congress critters are owners of the rentals? Pelosi?.......
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