Normally I am against rent control but I am slowly changing my view on it. If big investmen institution going to buy large portions of housing and apartment market then we need rent control. If we ban them then no rent control.
The best rent control is increasing supply. Allowing people to build more housing on their own land by relaxing the "single family" restriction in covenants and zoning laws along with removing minimum lot sizes and minimum setbacks will seriously help keep prices affordable without having to live 10 miles away from the downtown.
Such a proposal would guarantee that landlords would raise rent by the maximum amount every single year, lest they miss out on future earnings forever. It would also lead to more low quality housing, and landlords pull back on maintenance and upgrades to maintain profitability.
Rent control ALWAYS results in a decoupling of supply and demand. It is by definition rent-seeking behavior that enriches a shrinking number of entrenched renters to the detriment of pretty much everyone else.
They already cap some towns at 4% in NJ which is already too much of an increase from the perspective of a tenant in today's economy. I'd like to see someone get more than a 4% increase year after year on the same tenant. You might get away with it once but they'll jump ship by the second year of increases. Ironically, the same towns have no limit to the increase in property tax they put on the rental properties.
@@WillieFungo Okay, but the video is about rental caps which only applies to the same tenant. If the tenant moves out, then there's no cap to begin with which is why you can raise to market rate.
This proposal does nothing since rent does not historically rise at 5%/year. There was a one-time government-induced shortage during COVID that caused the price spike and this is just a reactionary feel-good nothingburger.
Normally I am against rent control but I am slowly changing my view on it. If big investmen institution going to buy large portions of housing and apartment market then we need rent control. If we ban them then no rent control.
Great Info as always - thanks Krista!!!!
Nice job 👏🏽
I don’t get it people need to pay or get out this America you’re free to buy a house yourself and rent it out. Get your ass to work.
Bring rent to the market price + 5% cap above improvements. then ok
The best rent control is increasing supply. Allowing people to build more housing on their own land by relaxing the "single family" restriction in covenants and zoning laws along with removing minimum lot sizes and minimum setbacks will seriously help keep prices affordable without having to live 10 miles away from the downtown.
Won’t work with mass immigration.
Why has the Democratic party become so economically illiterate?
good presentation
Such a proposal would guarantee that landlords would raise rent by the maximum amount every single year, lest they miss out on future earnings forever. It would also lead to more low quality housing, and landlords pull back on maintenance and upgrades to maintain profitability.
I’m pretty sure it’s illegal to to not maintain property up to livable standards
@@noname-mm9of”liveable standards“ is a very low baseline, communist.
Rent control ALWAYS results in a decoupling of supply and demand. It is by definition rent-seeking behavior that enriches a shrinking number of entrenched renters to the detriment of pretty much everyone else.
They already cap some towns at 4% in NJ which is already too much of an increase from the perspective of a tenant in today's economy. I'd like to see someone get more than a 4% increase year after year on the same tenant. You might get away with it once but they'll jump ship by the second year of increases. Ironically, the same towns have no limit to the increase in property tax they put on the rental properties.
That's the point. You raise the rent to get the current tenant out so you can relist your unit at the market rate.
@@WillieFungo Okay, but the video is about rental caps which only applies to the same tenant. If the tenant moves out, then there's no cap to begin with which is why you can raise to market rate.
This proposal does nothing since rent does not historically rise at 5%/year.
There was a one-time government-induced shortage during COVID that caused the price spike and this is just a reactionary feel-good nothingburger.
Why is it bad to raise rent? Go and buy a house you don’t want to pay rent?
I know, right? why dont the homeless just not withdraw more money from their bank accounts? duh? 😐
🤦♂
WTH?
boomer brain lol
@@DeenaMilkers I’m 30 and own 3 houses 😅😅😅