> Without rent control, those who are more wealthy can afford the housing, those who are poorer are out of luck.
I prefer that. It's not just about wealth, but also about how much you want to live there. I know people who earn about as much as me and spend > 30% of their net income on rent because they want to live in a trendy area. I don't need to live there, so I was able to choose differently and pay ~12% of my net income.
Also: with wealth, there's at least some correlation with merit. With a lottery, there's none.
I prefer that. It's not just about wealth, but also about how much you want to live there. I know people who earn about as much as me and spend > 30% of their net income on rent because they want to live in a trendy area. I don't need to live there, so I was able to choose differently and pay ~12% of my net income.
Also: with wealth, there's at least some correlation with merit. With a lottery, there's none.