[Crawford]

Originally Posted by jmecklenborg

Almost nobody goes out and gets a second job to earn an additional $1,000/mo when their living expenses go down $1,000/mo, netting a $2,000 difference. Instead, they often work less and spend more money on travel, food, and stuff.

This is my anecdotal observation with rent control in NYC. It doesn't increase affordability. Everyone I know with rent controlled apartments just takes more vacations and buys a second home in the Catskills. Also they're under no pressure to improve themselves economically, bc their home is theirs and price-controlled forever.