What are the pros and cons of rent control?

What are the pros and cons of rent control?

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PROS: It's good for renters.
CONS: It's bad for landlords.

cons: it's a price ceiling and will create a shortage of supply
black markets will arise to the extent possible to correct this
reduction in property value, an additional tax on landlords, may ruin existing financial structures created without consideration of such policies

pros: it allows poor people to not have to move as often from an area it's implemented in

>cons: it's a price ceiling and will create a shortage of supply
because we totally don't have a shortage of supply currently...

>t. liberal arts major that has never heard of a price ceiling

Pros:
Cons: It destroys cities

This.
I don't think you understand what a shortage is. A shortage is when demand is greater than supply at a (market) price. A shortage is NOT when demands > supply at lower than the current price.

I live in a country with some rent control and it has lead to a shortage and a black market just as economic theory predicts.

Your single pro supersedes your cons, how do you feel?

when demands > supply at a price lower then the current price*

>business board
>nobody mentions social welfare
It’s a quantifiable problem. Society is worse off when the market can’t set its own equilibrium. This is literally Econ 101

No one builds affordable housing anymore, condos net a bigger profit.

dumb faggot

not in every situation, but rent isn't one of them.

It's good for leeches

bootlicker

I thought about buying a condo but I'd rather rent since I "only" pay 650 cad for a decently-sized appartment.
People say rent is a waste of money but as an owner I'd have to pay
>municipal taxes
>school taxes
>condo building fees (don't know how to say it in English.. basically all the condo owners in the same block pay 100-300$ a month for maintenance of the whole building)
>interest on my loan

And even when it's paid in full it's not even mine, I'll get kicked out if I stop paying all those stupid fees.

Or you can buy a condo to rent out and live in a nicer apartment with the profit you get from renting.

It benefits people who's rent do not go up. It benefits the crooked politicians who are doing it to get votes.

It literally hurts all of the rest of society.

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Generally a bandaid for larger zoning regulations. Take New York and San Fransisco where rents are extreme. Building regulation related to how tall you can bill fundamentally limit supply. Removing these and other regulations would allow for more development and reduce costs. Look at Houston which essentially has no zoning and how cheap it is to live relative to how close you are to the city center.

>it literally hurts landlords
fixed that for you. rest of society my ass. all you fags against rent control have yet to offer ANY reasons why it's bad, except nebulous abstract economic ideas that don't actually apply to the real world. newsflash: you don't deserve thousands of dollars a month just because you "own" a building. kys

read no further.

The edgiest take is to actually think economic theory applies to the real world. Libertarians are retarded.

pwease daddy government make my went cheaper

>Your rights end where my feelings begin

pwease daddy landlord make my went so expensive that I can't afford it

So it creates nigger containment zones. I think I can get behind this.

Why are you even here? Read a book faggot

Rent should be affordable and anyone who thinks otherwise is a greedy pig. Oh look dear, there's an abundant homeless problem plaguing the city streets. Rent is so astronomically unaffordable why not let landlords charge as much as they want. You get the picture...

How does that fix the homeless problem? All it will do is make other people with money move into that area, vastly increasing demand for a limited number of homes.

an economic book, right?

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sounds like we need federal rent control so rent is cheap everywhere. and the only people who suffer are the landlord class who may need to actually get a friggin job other than sitting on their ass collectin rent checks.

Lmao at you NEETs

Then no one will rent and the landlords will just sell the homes at full value to the wealthy that want them.

sounds good. the value of the homes will be a whole lot less because renting them at exorbitant prices will no longer be possible.

Maybe in bumfuck flyoverland. All the wealthy would quickly gobble up the homes in any desirable location.

nah, you got btfo, you called him a bootlicker and you're actually the bootlicker.
Bet you feel pretty fucking stupid.

What is regulation

Mooooooooooom, my tendies got cold while I was shitposting can you come nuke them pleeease.

>let's regulate how much you can sell privately owned property for
What a good idea. Why has no one thought of this before?

Because its not profitable bootlicker, keep up.

You don't actually expect retarded tenants to save money for repairs and shit, do you? fuck no, they just bail leaving their landlord with a damaged property. do you think buildings can just last forever on their own with zero maintenance? do you think there are no costs for trash disposal, internet, water, gas, electricity etc..? How about the mortgage, fucker?

The second rent control passes in my area I'm evicting fucking everyone and converting my shit into condos/townhomes or short term rentals. Wanna live cheap? You aren't entitled to this shit. Fuck off to Kansas, come back if you want to pay AirBnB rates /

Its nice that you went mask off - these are the people arguing against rent control.

>wahh boohoo I can't afford a down payment, big daddy government should take money from those who can and give it to me!

Pretty much this.

The owner pays mortgage, taxes, any interest on loans, repairs, landscaping, etc. Property taxes is basically paying rent to uncle sam for fucks sake.

I enjoy renting because I don't have to deal with all the bullshit of being a homeowner. It fucking sucks unless you're semi-retired or real estate for a living. Renting is a nice convenience when I'm not the one putting over 100 grand on a property and generally stuck with it.

real estate is an excellent laundering medium as well as a great means to raise enough capital to keep a politician in your pocket. even if regs were passed, it'd only apply to guys who thought real estate would get them out of serfdom.

>ly expect retarded tenants to save money for repairs and shit, do you? fuck no, they just bail leaving their landlord with a damaged property. do you think buildings can just last forever on their own with zero maintenance? do you think there are no costs for trash disposal, internet, water, gas, electricity etc..? How about the mortgage, fucker?

THATS WHY YOU HAVE DEPRECIATION NUMBNUTS

Do the ultimate solution to your problem is the government owns everything and distributes it as they deem necessary?

C - m m - - i s m

Fill in the blanks

>these are the people

Fucking lol. And? Why are you here if you have no interest in understanding finance? Your envy is misplaced, faggot. Most landlords are assholes like you who got their shit together, stopped buying weed/vidya for like 3 years, got a better job than sandwich artist or uber driver, and started with a single family home then moved up w/ equity.

commie shit is just another way to keep proles in their shithole apartments and out of polite society

Its fascinating what underdog story you conjure up for yourself, hiding behind the fact you didn't earn your wealth but you inherited it.
A mental illness really.

PROS: Short-term gratification
CONS: Long-term fucking up the economy for decades

>you inherited it

are you retarded user? are you make believing me into some rich guy boogeyman? holy fuck

You're literally licking the government's boot begging them to make rent cheaper

It's not short-term gratification if you're saving money for a house. In the long run the economy is fucked either way because the gov't won't even allow new housing to be built to meet demand. Both landlords and renters are boot lickers.

bet you still pay property tax bootlicker. bet you still pay on a loan to a Big Bank bootlicker. bet you still pay utilities bootlicker.

what a retarded word

YOU NEVER RESPONDED TO MY RESPONSE KYS READ A BOOK OR SOMETHING SMDH

Lmao, when the economy tanks, your renters are going to leave for greener pastures. Be prepared to beg for the gov't for reduced property taxes.

what about depreciation? you think that's just a get out of cost free card for landlords? lol

listen to these entitled fucks itt who can barely afford food but hang out paying rent for a shithole in NYC or LA. do you think everyone's really going to make the smart decision and move to a city they can afford? you faggots aren't

depreciation is how the rich get out of paying taxes, aka jared kushner

PRO: it's a good ponzi for subletters
CON: it doesn't solve the fundamental supply/demand imbalance, created by greedy/lazy city councils that block urban land development.

>oregon now has state wide rent control
how the hell did they let this happen
good night dreams of comfy PNW living
guess all that talk about liberals wasnt just false flags and exaggerations

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PRO: moves shekels from landlords to dirty hippies and causes a lot of butthurt
CON: discourages new construction, moving houses, population growth, and pretty much everything else desirable

seems worth it, we should all be willing to cut off a toe to remove a landlord's foot

Easy solution is is only rent control buildings built before 198x. This way all the shitholes people live in are now rent controlled and encourages new development. Sadly this kills all the small time landlords and favours large scale developers

Not everyone moved to expensive cities before they became expensive, retard. Do you really think people would move to places with no jobs in order to pay cheaper rent?