Quote:
Originally Posted by chowhou
Rent control has historically been show to do several things impacting future renters.
- Incentivize landlords to sell existing rental properties for conversion to privately owned properties
- Discourage investment in construction of new rental stock
- Encourage people to overconsume housing, consuming space they may not need or even want. For instance, empty nesters renting a 3br apartment will be discouraged from downsizing to a 1 or 2br since market rates for smaller units may be higher than their rent controlled unit.
All of these factors increase the overall market rate due to the corresponding decrease in supply without reducing demand, thus impacting future renters. |
Appreciate the thorough response. From my perspective I honestly think #1 is a good thing and a move in the right-ing the ship's course.
#2 has shown to not be true over the last decade.
#3 I feel this is a minor problem with rental (very complex that extends into zoning itself), but I see this more of an issue with SF homes and I'd rather the collective tackle that first than be distracted by loosening rent increases.