Should the US implement rent controls? I want apartments and housing to be affordable for all...

Should the US implement rent controls? I want apartments and housing to be affordable for all, just like it is in Canada.

It's time we put our foot down and stopped these greedy landlords from exploiting people with their exorbitant rent prices.

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The Guardian always blames rent. Its dream home is the council estate.

A business owner will evaluate all his costs, such as rent, and how much he forecasts he'll earn selling x. If the sums don't add up a shop won't be opened. Further, for consumables like food and hygiene products most catchments are already well served. There are only so many corner markets that are economically viable in an area. Certainly online shopping has an effect on the non-food sector; most people will check online prices. Brick and mortar establishments run the risk of being the place where people try on and test out items, then they order online.

Merry Christmas!

>I want apartments and housing to be affordable for all, just like it is in Canada.
>just like it is in Canada.
>Canada.
lurk moar commie newfaggot

Yo mon let dis Jamaican mon teach you bout dat rent control mon

youtube.com/watch?v=CTmJddVgi2E

Rent controls lead to a black market, they limit supply too as they put landlords off. However empty properties, commercial or residential, don't make the council/city any money. In London the foreign money leaves top tier apartments empty to cash in on price increases. In commercial, run-down towns offer rent-free startups and reduced taxes to encourage businesses. Where this doesn't happen, suspect Rachmanism.

chu callin' a commie white boi I'm from Jamaica mon I know bout all dat ekonomics n shiet

>greedy land(((lords)))

There are rent controls, it’s called the free market. Establishing rent controls will just guarantee a shortage of available housing as regulations dry up any chances of generating a reasonable return of investment.

>be american
>have tons of piss poor mongrels and hobos
>still think your system is magically better than a gay semi socialist country rich in natural resources that only has to take care of roughly 35 million people

Free market doesn't have the same effect on essential goods and services. People don't just choose to be homeless because rent is outrageously high. People aren't going to stop eating if all food skyrockets in price by 500%. That doesn't mean that food or housing being overpriced by 500% is okay.

>be Canadian
I don't even need to continue

Rent is high because state property taxes are too high. The CA/NY/NJ fix their shit at the state level. I bet some low tax states would love to grow replacement cities for those shitholes.

yes it does

Rent increases on demand, not because some dick landlord thinks their slum apartments are hot shit. The housing market is always short on supply which makes it hard to justify renting at below market value. Slum apartments tend to attract the kind of people you don’t want to live around; the people who deal drugs and increase violent crime. Low value low cost apartments are generally run by people who don’t give a shit and have homeless guys sleeping in the hallways bumming cigarettes and alcohol.

Property taxes, insurance, and renovation costs are all tied into rent, the owners have to make a profit at market value or they raise their rates.

>Should the US implement rent controls?

Yes, let's fuck with the market some more, invisible hand my ass...

>Free market doesn't have the same effect on essential goods and services. People don't just choose to be homeless because rent is outrageously high. People aren't going to stop eating if all food skyrockets in price by 500%

You're retarded, but I'll play along. Would you pay $1,000,000/week rent, or would you try your luck elsewhere? How about milk, would you pay $10/gallon? How about $100? How about $1000?

You will reach a point where you are willing to either go without or buy your own cow. The same applies to rent, after a point you will relocate.

Go buy your own dam apt building..

It's not a free market because the jews that are in power don't allow me to build a the cheapest fucking apartment buildings wherever I please on land that isn't owned by anyone. This system only benefits kike landlords and artificially inflates the prices.

then move to fucking Cucknada faggot

It’s not even close to reasonable here. Beyond unaffordable

it really is rent

the nyc land Lord kikes are so greedy with their rent entire neighborhoods woild turn into ghost towns without bars and restaurants and businesses if they had their way

Rent control is a way of artificially suppressing property values and creating a government subsidized slum. Government intervention is the main reason rent is so high in California where I live, overregulation has led to a shortage. More bureaucratic rules aren't going to change the law of supply and demand. Pro tip: nimby elitism is the real agenda behind slow growth policies. Generally, the free market would automatically fix the problem by adding supply where warranted and feasible if government would get the hell out of the way.

>Should the US implement rent controls?
No. Rent control fails everywhere it is implemented. It is the natural order of things when businesses fail.

Henry George was right

redpill me on affordable housing shortage

If nobody is renting at the current rents, shouldn't that force rent prices down?

How can the building owners afford to keep the spaces vacant?

>Should the US implement rent controls?
Why are Sup Forumstards to fucking moronic when it comes to economics?

Cuz dey is greedy azz cracka land lords would rather lose money than to give people affordable housing, also they greedy af and all dey care about is money

shiet

This. Shit's expensive here if you are in any medium to large sized city.

>Actually live in NYC here
It really should. I know regulations can be fucking shit for buisness but at this point you can't start a small buisness in the city that was built COMPLETELY around the idea of starting a small buisness.

I need 3 roommates to even begin to pay rent. I'm here because I have to be, I do not understand why anyone would want to be here out of choice. Not because subways are littered with Antifa graffiti or the fucking swarms of Democrats, but the quality of life, the prices, the shootings, the filth, how hard it is to get fucking anywhere. I don't see why anyone but a tourism marketer could call it the best city in the world

Real estate follows cycles.

Prices are driven up by speculation, meaning, some investor buys property, hoping to sell it for a higher price than what he paid for it. He sells it to some asshole with the exact same motive. This is especially bad in trendy places.

This goes on for a decade or so, eventually, prices reset, the last investor loses his shirt because nobody can actually afford his obscene rent or sale price, he sells at a loss.

Just wait a couple years. 2008 was the last big correction, for some magically reason prices in across the world collapsed because real estate in the USA did too.

Thing is nobody ever, ever learns, ever. Everyone thinks real estate is a good investment, so your rents will always increase in cycles.

Reminder that the Guardian are extremely left wing and most of their writers, editors and journalists are part of whats called Momentum UK - a group of Socialists and Communists who fund Jeremy Corbyn.

No, the free market in housing is necessary. Why would you want to buy and upkeep expensive property if you're going to be handcuffed in terms of how much you can charge for people to stay there? If your rent is too high, people will leave. If the rent is too high everywhere to the point where nobody rents any space, the landlords will fail/collapse or eat the loss/lower rent. It's simple.

How comes you think them greedy azz landlords be chargin such high rent n shiet? I mean it dont make any sense, all they care about iz money but shiet, they actually be losin money because they make no money when no one is paying them rent.

I think the only explanation is... these racist azz landlords are so rich they're taking a loss month after month just to stick it to po' folk like us. They just get off on seeing us be homeless n shiet.

Obama needs to step in and DO SOMETHING

>Rent control

No. Let the free market correct itself.

This.

Who the fuck thinks things are affordable here? Our dollar is fucked compared to the US as well. Can barely afford to eat reasonably healthy.

you people who mock this mentality don't understand

I've seen pool halls, gyms, high quality restaurants all be driven out of business in nyc due to rent hikes, the space they occupy remain completely empty for years because the landlords own the building outright and it is no big loss for them to have no tenants even in the medium term, greedy kikes are quite literally running neighborhoods into the ground with their greed

Texas Illinois and NJ have the highest property taxes. California has less than 1 percent rate and new York would be well behind Texas. Your logic is retarded

please explain how having a property vacant month after month is more profitable than having people occupying it and paying you rent?

The difference between the amount they're asking and the amount a normal person is willing to pay them would have to be astronomical for them to make back the money they lost all the months the property was vacant. And the new tenant who's paying the exorbitant rent would have to also continue paying rent for some amount of time.

FUCK NYC

For instance, if a typical person in NYC can only pay $900 per month and the landlord wants $1100, and the property sits vacant for a year that's over $10k they lost. And then they finally get a tenant who will pay $1100. They have to rent the property for like 5 fucking years to make back the $10k they lost in that one year it was vacant.

Rent Control in the US exist, dum dum.

Sorry, I should clarify, what bottoms out real estate prices are huge booms of development from investors trying to cash in on those fat rents and crazy prices.

They flood the market and end up holding bags, or the banks end up holding bags. Not that nobody will live in the housing they built, but the market will drive down prices.

Maybe in the future, some laws or maybe like a Uber of real estate will show up. People will use an app to sub-let housing, crash on couches, live in grandma's basement, ect. Like Air BnB but long-term. Or some shit. Maybe not. Probably not.

Government fucking with rent rates usually just makes things worse. In Germany, rents went up because the government decided to let landowners charge whatever they want to house refugee families, this rent is paid by the government. Oops! Doesn't make sense to charge reasonable rent anymore! Why all these mayors and faggots fall all over themselves to welcome refugees.

Rent control = I can’t afford rent in the areas I WANT to live in. The affordable areas aren’t good enough

fucking millenials

>please explain how having a property vacant month after month is more profitable than having people occupying it and paying you rent?
because the building is owned outright and the property taxes are low, the building owners can keep the space empty waiting for somebody who is willing to pay the extortionate amount of rent they demand

Imagine being smart and skilled enough that employers want to pay you 6 figures
Then government steps in and says you MUST sell your services for 30k a year
Would that be fair? No.
Value is based on what somebody is willing to pay, period.

This. We have some notoriously bad (((papers))), but the (((Guardian))) manages to be the worst.

Affordable housing? Australia would like a word with you

Because the value of the property is based on the rent tenants pay
If you normally rent for $2000, and you foolishly decide to rent for $1500, you have taken your $400k property and reduced its value to $300k
It would take years of sitting vacant to eclipse that

Well I get what you're saying, but that seems unusual. Is a property that you ask $2000 a month for but nobody rents, really worth more than a property that you ask $1500 a month for and always has tenants? It'd seem like the value you get from claiming it's a "$2000/month property" would be a lie if nobody (or almost nobody) actually wants to pay it.

>(((Free market)))

Easily one of my favourite memes.

I mean would people who were looking to buy property really assign a value to a property based on a rent that the landlord demands, but nobody actually pays? That's what I mean is strange or unusual.

>Rent controls
>Basically a nuclear bomb
>Black market, undocumented rents skyrocket
No thanks we had enough in the late 70s.

Build. More.
The only solution is to create more housing and retail stock for people to occupy. Rent control becomes it's own shackle.

>Price controls

Nigger have you Mises?

>building owners
because they are gigantic multi property investment trusts, any single location is just a cost/profit center to be manipulated

>
>I mean would people who were looking to buy property really assign a value to a property based on a rent that the landlord demands, but nobody actually pays?
Yes. It's a game of perception management. Whether or not your investment makes $15mil or $25mil is literally a function of, to put it reductionistically, rumor mongering and socialite whispers. Also worth thinking about: the global elite likes the idea of NYC being Rich People: The City; the idea of a place where you can't afford to live if you don't make >= $1mil a year is attractive to them. London is similar

nycfag here. are you a transplant? what the fuck are you doing to need 3 other people to stay somewhere? are you one of these retards who came from out of state, didn't know any better, and walked into some ridiculous $3,000 a month lease for an apartment the size of a closet?

it doesn't matter because if they own the property itself, the land is worth far more either way. having rent in the equation is chump change to the actual value of the little square of land, regardless of what's in or on it.

Montreal is genuinely cheap. For 800$ you get a 2 bedrooms.

rents don't dictate property value, good sir. you could have a crack shack in shambles and ask 5k a month for it. it does not mean the property is worth that just because it's what you're asking for. just as in all things, something is worth what people are willing to pay for it. you don't get to pick. if a building is amazing, people will pay more for it, and that is what determines it. if it's a shithole and no one is renting, there is a good reason for it and it will drive the cost down because they will have no tenants.

Move to Houston, we don't have zoning ;) you can build your own apartment literally anywhere

Rent affordable in canada? I live in buttfuck nowhere a basement rental is like 900-1200$ the fuck you talking about affordable?

Landlord here. I never let my properties sit vacant for more than a month, lost rent is almost always more expensive than lowering the rental rate.

Being a landlord has made me realize two things: thanks to info made available on applications, you can see that most people are utterly retarded when it comes to personal finance, and that all stereotypes are fucking true (like tons of black single mothers on section 8 trying to rent a nice apartment that costs 65% of their income)

You don't need rent control. All you need is Chink corruption money control,

Tell the fucking government to stop artificially reducing availability of available housing. Its because of the government this shit is happening, not the private market

>just like it is in Canada.
It isn't affordable at all

Rent isnt affordable in Canada wtf u talking about

You need roomates to make it affordable

there a list of the 50 worst landlords in New York and there were literally all Jews and one Indian.

You do not live in buttfuck nowhere if you're paying $1,000/month for a bed

jew-worshipping cuckold.
if only you knew how bad it actually was

The town does not own those buildings. It has no right to impose rent control.

Really? I'm in BC and for $800 you'll get a nice cardboard box somewhere wet. My industry only exists here and in Montreal, if it's that cheap I'd move in an instant.

Well Canada as a whole is buttfuck nowhere, but I'm not surprised at all to hear $1000 Canadian shekels per month gets that user a hole in the wall with a mattress.

>just like it is in Canada
what

Building more homes won't solve the problem. Chink with corruption money invest in Kike or Chink EB5 apartment project. More and more shoeboxes are built. Yes, there're more supplies. But look at the rents of these apartments...2K for a studio! No one in sane mind would rent this shit. And then the whole building is vacant for a decade before the developer offer real market price rent.

Without Chink corruption money control, eventually, everyone in major Western cities will live like people of Hong Kong.

If no one can afford the rent then they will just lower the rent until someone takes it, because something is better than nothing

My college town's main thoroughfare is half vacant too. wtf? 40,000 rich students...yet half the retail is vacant. Aren't property owners losing their asses -- or is there some tax scam where a bunch of vacant retail on their books somehow helps them at the end of the year? I assume they write off top dollar and it benefits them more than if they were to fill space by lowering the rent?

Oh, I forgot we were talking about leafbux. Even still though

You want to give the government more control?