Comment Comment by b1r6 Rent control is bad economics. The simple progression:1. Local political culture limits natural housing supply growth.2. Increasing percentages of people can't afford rent due to housing supply not meeting demand.3. Rent control is enacted for political wins.4. Property values fall due to decreased utility in ownership.5. New housing creation falls due to new lack of incentive.6. End-stage dysfunction; negative feedback loop established.6A. Lack of inflation-tracking minimum wage exacerbates. parent b1r6 7 years ago
1. Local political culture limits natural housing supply growth.
2. Increasing percentages of people can't afford rent due to housing supply not meeting demand.
3. Rent control is enacted for political wins.
4. Property values fall due to decreased utility in ownership.
5. New housing creation falls due to new lack of incentive.
6. End-stage dysfunction; negative feedback loop established.
6A. Lack of inflation-tracking minimum wage exacerbates.