>That includes determining the rental price, and imposing fines for empty units.
We already have a fine for empty units. They're called property taxes, and they're the strongest and easiest-to-use tool that local governments have for reducing vacancies.
>I would argue a 1 bedroom apartment should have its rent capped at less than 40% of the monthly take home of someone on minimum wage.
Then you're making it de facto illegal to build new housing. No bank is going to lend money to anyone to build more housing if they can't charge enough rent to cover the loan.
>In what US city can someone on minimum wage raise two children? On the US federal minimum wage?!
Maybe not the US federal minimum wage, but Austin has become the second-most affordable city in America (median rent price to median household income ratio), just by permitting a huge number of apartments.
We already have a fine for empty units. They're called property taxes, and they're the strongest and easiest-to-use tool that local governments have for reducing vacancies.
>I would argue a 1 bedroom apartment should have its rent capped at less than 40% of the monthly take home of someone on minimum wage.
Then you're making it de facto illegal to build new housing. No bank is going to lend money to anyone to build more housing if they can't charge enough rent to cover the loan.
>In what US city can someone on minimum wage raise two children? On the US federal minimum wage?!
Maybe not the US federal minimum wage, but Austin has become the second-most affordable city in America (median rent price to median household income ratio), just by permitting a huge number of apartments.
https://x.com/nickgerli1/status/2006872715316121750