say it with me:
BUILDING
APARTMENTS
WITHOUT
CONTROLS
ON
THE
RENTS
OF
THOSE
APARTMENTS
ONLY
ENRICHES
DEVELOPERS
AND
DOES
NOT
DRIVE
DOWN
RENTS
thinking that it does is some neolib "free market" bullshit
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How is building luxury a requirement for building denser? Denser is already more profitable, without having to displace the current demographic of a neighborhood. The density strawman is from rich landowners blocking building in their neighborhoods in the first place.
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The driver of housing prices is not luxury but simple scarcity of square footage. Consider: $3000 will get you a decaying closet in Manhattan or a palace in St. Cloud, MN Luxury condos in historically poor neighborhoods are gross aesthetically but not the root problem
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Yes, and you cure pricing by rent controlling, which is the point. You're replacing a lottery system with a highest bidder system (i.e. rich only) when you remove rent control. This is lateral to density.
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Oh no Rent control is still a highest bidder system but instead of competition on price you compete on other margins "I have eighty tenants who want every unit. Why should I choose you? What can you offer me that others can't?"
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Maybe I add outrageous key fees. Maybe I never repair the place. Maybe I only rent to ethnicity groups I like. What does it cost me? I'm not giving up any money by treating my tenants poorly. They're all paying below market.
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You can try to outlaw these things but in practice this is impossible Even if you succeeded the response would be decaying and never-replenished housing stock, since landlords would have no incentive to keep places up to attract tenants, and no expectation of profit on new units
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On these points, I direct you to the experience of renting in New York and San Francisco.
End of conversation
New conversation -
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it's true that construction firms and similar will gain if regulations are relaxed to let them Build and Build and Build near city centers where there's a lot of housing demand but in this case it's a win-win game, because increased housing stock is what lets prices fall long
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. . . term. honestly, if you want to settle on a villain, your best bet is probably the forces that prevent dense building in areas where people want to live; these are mostly middle to upper middle class bougies in single family neighborhoods
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