“And just like that rentals are converted to condos when people move out.”
When the Americans With Disabilities Act became law the number of jobs available to people with disabilities plummeted. Likewise, government provided lawyers for minorities so they can sue employers led to a reduction in hiring of minorities. It was so bad that our contracts with the military began to specify we had to have a quota of minorities to qualify for award fees. Not only that, but they had to be “highly compensated” minorities. Turns out the Asians didn’t count. It had to be blacks. There are lots of Asians with advanced degrees and darned few blacks with advanced degrees who are also worth the degree they hold. (They do exist. They’re just rare.)
Every new vote-buying right and privilege results in a reaction. So, expect the number of rentals to decline. What they’re trying to do is stop owners from selling their property. I truly wish I’d sold all of my rentals when the market was good. Hindsight.
“darned few blacks with advanced degrees who are also worth the degree they hold. (They do exist. They’re just rare.)”
I worked with hundreds of black people at all levels for more than five decades in several states.
I never met one who was worth the degree they held—not one.
Freepers keep assuring me these folks exist—but they are Unicorns to me—I have to meet them and watch them work to believe it.
“expect the number of rentals to decline”
Exactly. Then, when supply dries up and prices go way up, guess what we’ll hear? “We need ‘rent stabilization.’”