Submitted by HRJafael t3_10sfbo2 in massachusetts
Icy-Neck-2422 t1_j71d20s wrote
SouthShoreSerenade t1_j71dggq wrote
For one reason and one reason only.
>The new policy created a powerful incentive for landlords either to convert rental units into condominiums or to demolish old buildings and build new ones.
Let's just eat the landlords. Problem solved.
gitbse t1_j71pwf1 wrote
When the capital owners hold all of the power, issues for the people will never be solved.
BovaDesnuts t1_j78lfuj wrote
Didn't work so well for the Irish
relliott22 t1_j71mxrx wrote
Came here to remind people that high rents are driven by basic supply and demand. Too many people are chasing too few rental properties. Rent control ultimately makes this problem worse by artificially decreasing the price of rental units, therefore artificially decreasing the quantity supplied.
I'm a registered Democrat who voted for Elizabeth Warren in the primaries, but when it comes to rent in Massachusetts, we should take a page from the Republicans and deregulate. If you really want the government involved in this, create government subsidies/tax breaks for the construction of the types of housing that you'd like to see built.
3720-To-One t1_j71vkz3 wrote
Whatwe need is for the state to take over zoning and tell NIMBYs and all their cries of “neighborhood character” to go pound sand.
Zoning is the problem. There isn’t enough supply to meet demand.
relliott22 t1_j71zhk9 wrote
To add on to that, in many places the historical buildings have got to go. Especially in the Boston metro.
Also, we need to stop large universities like Harvard, MIT, Northeastern, and Boston University (my alma mater) from buying any more land. They're like tumors.
3720-To-One t1_j720wb1 wrote
My issue is what’s considered historical.
A building isn’t “historical” and worthy of presets to on simply because it’s old.
But yes, universities need to stop buying land, and there needs to be more pressure for them to build more housing to house their students.
When I was in my 20s and living in Allston, it’s frustrating that I’m having to compete with so many BU students with rich parents, which ultimately drives up prices.
torniz t1_j73amqn wrote
Fall River has knocked down a bunch of old churches. Instead of building multi unit houses, we got single family homes.
relliott22 t1_j73c3oq wrote
The perfect is the enemy of the good. You got more housing.
HaElfParagon t1_j7231jm wrote
Well, deregulate in some instances. I don't want landlords to have the ability to force tenants out just to hike rent 30% for the next person
relliott22 t1_j72fyg1 wrote
...And neither do I. But landlords do need to be able to evict people, and they do need to get a fair market return for their properties.
The regulations that I would like to see gone are the regulations that make it harder to build, but I don't pretend to be an expert on housing policy. I just know that the current problem is one of inadequate supply, and that rent control would exacerbate the problem.
We want the same things. It's just about what we think is the right road to get there.
han7nah t1_j72xkvh wrote
The increase isn't tied to any fair market return, their monthly mortgage is the same every month. The increase in rent is always way more than the increase in the costs of property taxes, maintenance, and insurance.
HaElfParagon t1_j72xmbs wrote
I disagree. I don't think "fair market return" is something that should be allowed when we have a homeless epidemic
Bobbydadude01 t1_j71w4dy wrote
Empirical evidence disagrees but pop off king.
Cerberus73 t1_j71xrvi wrote
Make a blanket declaratory statement without backing it up? Pop off, king.
Bobbydadude01 t1_j71xyai wrote
Read a book
Bendragonpants t1_j72bi95 wrote
Which one? (Might I suggest The Power of Productivity by William Lewis?)
Bobbydadude01 t1_j72cf9n wrote
I read a few papers about it. The big one was a look at San Francisco's rent control. It was titled "The effects of rent control expansion on tenants landlords and inequality.
I'll check it out at some point.
Bendragonpants t1_j72cjzn wrote
Who’s the author? I’ll check it out
Bobbydadude01 t1_j72ct4g wrote
Rebecca Diamond
Tim McQuade
Franklin Qian
relliott22 t1_j72mgw0 wrote
>The effects of rent control expansion on tenants landlords and inequality.
From the abstract of that article:
"we find rent control limits renters' mobility by 20 percent and lowers displacement from San Francisco. Landlords treated by rent control reduce rental housing supplies by 15 percent by selling to owner-occupants and redeveloping buildings. Thus, while rent control prevents displacement of incumbent renters in the short run, the lost rental housing supply likely drove up market rents in the long run, ultimately undermining the goals of the law."
Bobbydadude01 t1_j72mu8o wrote
Don't just read the abstract.
Reducing displacement of current renters in the goal of rent control. That's the primary objective. It is not a fix all soluton to housing costs.
relliott22 t1_j72o3zj wrote
The paper you cited saying rent control works actually says that rent control is counterproductive. The goal of rent control is to reduce rents, says so right in the name. Unfortunately, it doesn't work very well.
Bobbydadude01 t1_j72q5zm wrote
No, the purpose of rent control is to stop rents from shooting up for current residents. Says so right in the same. Fortunate, it works very we.
relliott22 t1_j72r586 wrote
That's not what the paper you cited says.
Bobbydadude01 t1_j72rmp8 wrote
Yes it clearly does. Even in the abstract, which is evidently the only thing you read when doing research.
relliott22 t1_j72sw2u wrote
My Dude, please take your own advice:
"We find that landlords actively respond to the imposition of rent control by converting their properties to condos and TICs or by redeveloping the building in such as a way as to exempt it from the regulations. In sum, we find that impacted landlords reduced the supply of available rental housing by 15 percent. Further, we find that there was a 25 percent decline in the number of renters living in units protected by rent control, as many buildings were converted to new construction or condos that are exempt from rent control.
"This reduction in rental supply likely increased rents in the long run, leading to a transfer between future San Francisco renters and renters living in San Francisco in 1994. In addition, the conversion of existing rental properties to higher-end, owner-occupied condominium housing ultimately led to a housing stock increasingly directed toward higher income individuals. In this way, rent control contributed to the gentrification of San Francisco, contrary to the stated policy goal. Rent control appears to have increased income inequality in the city by both limiting displacement of minorities and attracting higher income residents."
Bobbydadude01 t1_j72tvge wrote
As I have stated, this reduces rent volatility for current residents but leads to increased rents in the future for new tenants.
New housing units reduces housing costs.
Learn how to read a paper.
relliott22 t1_j731ohj wrote
It exacerbates the problem in the long term which makes it a poor policy choice. We should subsidize housing construction rather than imposing rent controls. Learn to draw conclusions based on what you've read.
Bobbydadude01 t1_j733nyf wrote
It's proper usage is a short-term solution while long solutions are implemented or during economic emergencies.
Implementing rent control while increase unit construction would reduce housing costs in the short term while ensuring increased supply in the long term to counteract the supply affects of rent control.
relliott22 t1_j734jmm wrote
Which is not what the proposed bill would do. The bill would give cities and towns the ability to impose rent controls. Not temporary emergency rent controls while they also increased supply. Just rent controls. Now, are you for or against the proposed bill? Because I'm against it.
Bobbydadude01 t1_j735nmt wrote
And that has nothing to do with what I said. I have spoken about the concept of rent control, not specific policy.
But you should be able to figure out my opinion.
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