Quote:
Originally Posted by Crawford
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.
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It's pretty hard to be
completely disciplined with earnings and spending. Knowing that you're saving a lot of money in a major category (for example, I lived for four years in my twenties without a car, yet managed to slide into significant debt) makes you think that you're "good with money", but you probably aren't.