California Approves Statewide Rent Control to Ease Housing Crisis

Google e8qK1T
Sep 11 33 Comments

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TOP 33 Comments
  • Amazon / Eng
    weeeeeeee

    Amazon Eng

    BIO
    AWS
    weeeeeeeemore
    If only there was a way to satisfy demand.

    Any Econ majors here that can help us out on this difficult one?
    Sep 11 2
    • Sphera / Eng yourboi
      I think we need civil engineers to help us with that one 😂😂😂
      Sep 11
    • Google e8qK1T
      OP
      I've been informed by very reliable blue checkmarks that supply and demand is econ 101 stuff and therefore couldn't possibly work in the real world.

      They never bother explaining why though, funny that.
      Sep 12
  • Amazon brwl34
    This won’t help with rental housing supply. It’s much more likely that people will turn to buying and selling their homes instead, in order to realize full market value without the government dictating what they consider “fair”. NYC and SF have exclusively had rent control for decades, yet they remain the most expensive places to live in the country. How brilliant of the left to double down on a failed strategy; probably helps slow the inner bleeding from their hearts.
    Sep 11 17
    • Salesforce baby J
      Take tax cuts for instance.
      Most of cuts for individuals are temporary and set to expire over next few years while corporations got theirs permanently.
      To make it look like people got tax cuts prior midterms irs purposefully issued guidance with lowered numbers ( much less were take out from paychecks) to make tax cut spear meaningful. However, it simply means that people got smaller returns or even owed taxes etc etc
      Sep 12
    • Lyft done2
      Yeah I think you’re viewing the world through rose closet glasses. They talk a good game, they win people over with this emotional feel good talk. They distract you so you don’t pay attention to whether or not they deliver on the promise
      Sep 12
    • Salesforce baby J
      You mean like Mexico will pay for the wall, tax cuts will pay for them self’s, great cheap healthcare...?
      Sep 12
    • Lyft done2
      Mexico deployed over 25,000 troops. So yeah I guess they did end up paying.
      Sep 12
    • Amazon brwl34
      Once you run out of room to build, the only fair path forward is to rent to the highest bidder. Want housing security? Then buy your home instead of renting month to month. Simple as that. Rent control is the equivalent of forcing a gas station to sell you gas for a fraction of the market rate, just because that’s the price you’ve gotten accustomed to your whole life. It completely goes against the laws of supply and demand.
      Sep 12
  • Lyft done2
    I was considering renting out my house next year. Guess I won’t bother.
    Sep 11 2
    • Facebook xnx
      Did you even read the text? The law doesn't apply to SFH unless they are owned by a corporation.
      Sep 12
    • Intel D’s🥜
      If you can’t bump your high rise by 30%, why bother?
      Sep 12
  • Capital One / Finance Rexxar
    Rent control doesn’t really solve any issues. It only means your rent will go up more slowly but at the same time there are other ways to increase the costs of living. It also further reduces long term housing supply as other parts of the country become more lucrative for investors.

    The barriers to eviction could be good if they don’t prohibit evicting a non-paying tenant. If I own property and my tenant doesn’t pay, I won’t pay my taxes, when the city tries to seize my property I’ll take them to court. You can’t force a business (investor) to pay for taxes on a failing (non-income generating) business when the city/state government is the reason they can’t generate income.

    There is a really good freakonomics pod cast on why rent control doesn’t work. A better solution could be to incentivize affordable housing development and better mass transit. Though the Californian democrats failed miserable at the mass transit rail they were trying to make before.

    I know most people on this App are liberal/left and won’t agree with my comment. These are however my thoughts on the matter.
    Sep 12 1
    • Intel D’s🥜
      The problem with the supply is how SF/CA approves construction projects. There are currently owners who want to build large housing structures and can’t because of the homeowner lobby
      Sep 12
  • Apple ijyA68
    Central planners gonna central plan. Now supply will go down state wide👍.
    Sep 12 0
  • Amazon wyJu48
    Why can't we just have first come first serve? Why can't be ditch supply and demand once for all? Why are we treating housing as a non-renewable resource?

    Let's say all companies are based on Sunnyvale. Early settlers rent or buy housing in Sunnyvale. Next people go to San Jose, and so on. The people arriving most recently get the farthest place. Good public transportation is provided to farthest people. Rent for Sunnyvale to far off are more or less the same and capped. Apart from that, companies decentralize too, some work is based in Fremont or as far as Walnut Creek too.

    If man didn't have greed and followed this simple strategy, rents would have been mostly stable. To keep rents in check by evil landlords, companies should ban employees living with these landlords so these landlords are forced to keep rents under control and ensures the tech crowd isn't responsible for rent increase.
    Sep 12 4
    • Capital One / Finance Rexxar
      If man didn’t have greed you wouldn’t have high TC. Look at both sides of the equation my friend.
      Sep 12
    • Amazon wyJu48
      TC wouldn't need to increase if cost of living was under control. Stable rent, stable TCs. TCs would be standard based on skills and experience rather than having this negotiation BS.
      Sep 12
    • Capital One / Finance Rexxar
      And you would make the same everyone everywhere
      Sep 12
    • Google əๅɓoo⅁
      How would you get rid if supply and demand? You would need government to provide people with housing and food and ban business and high TCs. Its called socialism and was tried before. You won’t like food and housing the government provides (ask me how I know).
      Sep 12
  • LinkedIn toughs
    smdh...
    Sep 11 0

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