Comrade Kaprugina
Posted on 02/02/2020 7:01:13 AM PST by Kaslin
Presidential candidate Bernie Sanders wants to impose national rent control. He unveiled the policy proposal last September and recently reiterated his support via Twitter.
Sanders proposes a national cap on annual rent increases to 1.5 times the rate of inflation or 3 percent—whichever is higher.
Ironically, the article Sanders tweeted out attributes increasing rent prices, in part, to government control over the private housing market. This irony reinforces what many economists already know to be true: the left’s prescriptions for lowering housing prices are precisely what keeps prices high and supply low.
Rent control would be a flagrant infringement of American property rights and a vast expansion of the federal government's control over the private housing market.
The government should have no role in determining rental costs. All governments are ill-equipped to consider the many visible and invisible factors that determine the market price of a rental property.
What enforcement mechanisms would come down on the American people under a national rent control bureaucracy? If a local landlord, for whatever reason, fails to comply with the new federal standard, what kind of punishment would ensue? Might the IRS garnish his wages? Would he be fined out of business? Put in jail?
None of that passes the smell test is because none of it feels like it's an appropriate use of the federal government's power nor is it even within the scope of power that the government ought to operate in.
Sanders wants to create a new bureaucracy inside HUD which will involvemassive administrative costs. Enforcing rent control requires an elaborate bureaucracy—especially on a national level. To take an example of one city, San Francisco's Rent Arbitration Board can expect to bring in over $5 million in order to enforce rents on 170,000 rent units. The National Multifamily Housing Council explains, “Rental property must be registered; detailed information on the rental property must be collected; elaborate systems for determining rents and hearing complaints and appeals must be established.”
Sanders has proposed a myriad of dangerous, government-expanding policies. National rent control is one that has gotten very little media coverage, despite the dire effects of such a policy.
Rent control hurts the very people it aims to help. The housing market in rent-controlled cities is defined by dissatisfaction, maddening trade-offs, and paycheck-consuming prices.
If rent control on the local level causes increases in rent prices and limits housing supply, it’s not hard to imagine just how severe the effects would be on a national scale, when the federal government tries to impose Manhattan-type rent control policy on Thurmond, W. Va.
Even the socialist Swedish economist Assar Lindbeck said, “In many cases rent control appears to be the most efficient technique presently known to destroy a city – except for bombing.”
20 million illegals . . . supply . . . demand.
Rental owners are bottom feeders.
The usurious loan sharks in the mortgage industry have ruined the American dream, both them and the Chamber of Communists benefit from limiting supply, and lobbying for cheap foreign labor.
And don’t forget Big Agriculture extorting local governments for subsidies to house their foreign workers. They even want them voting in our elections.
I can’t see defending an already communist system, we don’t have free enterprise as long as we have 20 million people who don’t belong here in the first goddamned place.
Comrade Kaprugina
As long as we have 20 million people who don’t belong here in the first place, we’ll never have a free market.
Lets create a national housing shortage...
Let’s import 20 million Mexicans, give multi-billion dollar agricultural producers subsidies for their farmworker housing.
A lot easier than paying a white man enough to raise his family on.
This will happen:
1. Rent controls put into effect
2. Taxes rise beyond the rent control increases
3. Landlords cannot make a profit
4. Maintenance gets delinquent-renter gets unhappy
5. Landlord fails to keep up mortgage payments
6. Landlord files for bankruptcy or Bank forecloses
7. Bank is now the property owner and new buyers are few & far between. Property most likely now is sub par in condition & getting worse.
8. Empty properties are now being “squatted in’ by homeless or ‘single black mothers as in San Francisco. “Housing Is A Right” they claim.
9. Banks will hold off paying property taxes until forced to by local rules. IF they have a 3 year window before the county or city seizes the property-—they will hold back taxes for that 3 year window....which leads to lower tax revenues being collected & higher administrative costs by the local authorities....keeping track of those inside or outside of the 3 year window. When 3 year window looms, bank will pay 1 year—and still be delinquent in the other 2 years.
10. Neighborhoods that were decent residential areas will fall into disrepair very quickly. Gangs & other criminal problems will dramatically increase and spill over into other neighborhoods.
11. MORE HOMELESS will be roaming the streets.
12. Cities will be declaring bankruptcy because they do not collect enough tax revenue to pay for all the goofy ideas Bernie has for life in the USA.
13. Construction on new rental properties will cease-—dropping income taxes from such builders.
SOMEONE-—ANYONE-—tell me what I missed......I am just a simple bookkeeper who went to a one room grade school.
Farmers are subsidized babies. I have little respect left for the 1%-ers that we call farmers.”””
Sure hope your gardening & livestock raising skills are well hones.
Agreed. Keeping our farmers in business is a National Security interest.
Just as keeping our steel factories here, and energy independence.
You joined Free Republic YESTERDAY....
Sure are full of yourself with anti-capitalistic opinions.
Most people on FR are pretty strong home owners & many are landlords.
Did you get yourself a nice long EVICTION history with all your anti landlord rhetoric?
Probably closer to 30,000,000, but no one is really counting because they don't really want us to know.
I am not here measuring ourselves as if we’re in some 8th grade gym shower.
If you are rich—good for you. I was not bragging. I was saying it was a tactic in the mid 80’s. Didn’t say I did it. Just saying you’d be surprised who are landlords.
I am not here measuring ourselves as if we’re in some 8th grade gym shower.
If you are rich—good for you. I was not bragging. I was saying it was a tactic in the mid 80’s. Didn’t say I did it. Just saying you’d be surprised who are landlords.
Well, how nice of you.
Where do you get your sheets startched?
Control Freak
I don't indulge in public d*ck measuring contests
...You’re a bottom feeder...
Soon enough, God will judge me. Lesser entities need not apply.
...I can hire nice white people to work for me...
You are a racist with that attitude. I have a small business. My payroll is one USMC veteran and one single mother. In the past I have had Black and Hispanic workers on my staff.
...20 million illegal aliens are causing a housing crisis...
I have about as much influence on that issue as a flea on the tail of a dog has in influencing where he is going.
I am providing housing for a number of families. What are you doing to help this situation? Ranting on the internet does not count as actually doing something.
...I’m sure your wetback labor works hard too...
Current payroll is 100% US citizens. During the course of my life I have hired scores. Most were citizens, but I suspect a few illegals may have been in the mix. I have never discriminated on wages, and I have never negotiated a man down on wages.
That doesn’t change the fact there are 20 million illegals driving up prices and a bunch bottom feeding landlords selling Americans out for the almighty dollar.
I joined yesterday, so that doesn’t give the right to have an Americans first opinion?
You like that wetback labor because you are to cheap to pay a white man?
You forgot the 20 million illegal aliens.
You got that right sailor...
But having the temerity to ask the question about supply being sucked up by illegals makes you a commie like Sanders.
No wonder California is so screwed.
I wear a size 16 boot.
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