It's not the only thing, no
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Replying to @AustenAllred
So it's possible that an increase in supply DOESN'T lower rents, right? We're making progress here!
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Replying to @ScubaForDogs
If there's a scenario where increasing supply DOESN'T lower rents, then not increasing supply will raise them even faster
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Replying to @AustenAllred
If that's true though, and rents are directly tied to supply, why would there be opposition to rent control on new developments? The increase in supply was going to drive the rent down naturally anyway, right?
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Replying to @ScubaForDogs @AustenAllred
Rents are not "directly tied to supply", they are "generally tied to supply". It's not a direct 1:1 relationship, it's a trend. Marketplaces always have pockets of irrational behavior. You are taking "pockets of irrational" and extending it to "markets don't work".
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I am in San Mateo county. No rent control. Pop: 750k If we add 200 units next year rents don't change. 2000 units? No change. 20000 units? Probable change. 200000 units? Complete and utter change.
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Replying to @gatesvp @AustenAllred
you're not going to build 200k units though, even if your local government wanted to there are very powerful people that would put a stop to it, specifically to avoid rents going down and if all you're gonna build is 2k, control the rent so 2k working class people can live there
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and I am highly suspicious of the argument "if you just give the developers all the deregulation that they want, they will build so many homes that the rents will go down" without there being some kind of binding part of it. I don't like relying on the good faith of rich people.
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Replying to @ScubaForDogs @AustenAllred
But that isn't the argument (at least not mine). Let's regulate the things that encourage more housing first. "Hey, new buildings need to be 10 stories or more." "Hey we're changing parking/zoning regs so that you can fit more people." "We promise more pub. trans. as you build."
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Replying to @gatesvp @AustenAllred
What's wrong with "hey, there's a height restriction on all new construction, but if at least 50% of the units are rent controlled, that height restriction goes away"
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Why have a height restriction?
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Replying to @AustenAllred @gatesvp
In this case it would be to incentivize the construction of affordable apartments, but if you mean 'why do we have height restrictions in general' I don't know exactly why offhand. I'm just saying rather than remove regulations and hope for good faith, why not just cut a deal?
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