A study out of Stanford finds that a local rent control law benefited tenants in controlled units, but undermined the overall supply of affordable rental housing: http://ow.ly/fNpP30iqpVP via @ndelgadillo07
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Don't these downsides stem from the fact that rent control is not universal in SF? This is framed as "this complicated half-measure" vs. "no rent control" but full rent control is never considered.
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Proponents of rent control in the US generally push for “modern rent control” which doesn’t apply to new construction bc it would crater production.
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Yeah, except for socialists who'd welcome price caps + pressure to build publicly funded nonprofit housing. Universal rent control making housing unprofitable isn't a bad thing if you want it decommodified, I suppose?
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Replying to @internetliza @kimmaicutler and
I find it ironic that rent control often gets slammed as "bad for housing" when it exists in so few jurisdictions and it's so overwhelmingly obvious that the free market isn't working to produce housing.
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I’m not slamming it as bad. The study clearly says it benefits existing tenants while incentivizing property owners to remove units out of the housing stock, disadvantaging future renters. It’s mixed.
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Replying to @kimmaicutler @internetliza and
Sorry, that wasn't directed at you Kim.
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