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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Given that this country is based on nearly a millennium of common law tradition from England, strong property rights over many centuries and that there is open internal domestic migration inside the US, how could one do an empirical study of that here?
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True but I don't think you need a study to see how universal price caps would keep prices low. If conditions become uninhabitable, empower tenants with legal recourse. If landlords can't afford it, the govt should take over. If the govt can't afford it raise taxes.
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This was an empirical study of a specific legal change that happened 20+ years ago in SF. No equivalent situation exists to do anything beyond a theoretical study of what you are talking about.
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