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Caleb Hammer explains why rent control doesn’t work “It’s one of those policies that sounds really good and really moral. You want to support it, landlords make less money and people pay less rent. But everywhere it’s been enacted, permitting has dropped significantly, and rents have gone up even...

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Mikli

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1,598,436 Aufrufe • vor 7 Monaten •via X (Twitter)

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35 Kommentare

Profilbild von StevenCaelleigh
StevenCaelleighvor 6 Monaten

You're also leaving out that the other apartments that are not rent controlled then have their rent increased to make up for the lost revenue, screwing everyone.

Profilbild von Dart Rippington
Dart Rippingtonvor 6 Monaten

"Yeah but despite all the evidence that it never works and in fact makes things a lot worse, we should try it again"

Profilbild von 🜏Bast🜏
🜏Bast🜏vor 6 Monaten

If you can't keep your rents controlled or units up to code, stop buying housing like it's an investment instead of a basic need. 'rent control doesn't work cause landlords find other ways to rig the game!' Get rid of them!

Profilbild von Bohumilo
Bohumilovor 6 Monaten

There's scarcely an issue that economists agree on to the extent they agree on rent control, “the fastest way to destroy a city, save for bombing”👇

Profilbild von MrSnarky
MrSnarkyvor 6 Monaten

EVERY leftist idea sounds good on paper, but doesn't work in the real world. That's why EVERY leftist country fails One reason America has been so successful is that it's the FREEST market on earth. The further we get from that, the more likely that America fails Freedom Works

Profilbild von Hey Jay
Hey Jayvor 6 Monaten

stockholm, berlin, most of china - all tried it, all failed. it actually helps only the wealthy bc the only new inventory is luxury out of fear a lower income build would get frozen. middle class REALLY gets pinched bc rent controlled inventory goes away, so demand for mid-tier skyrockets

Profilbild von Brian's Beacon
Brian's Beaconvor 7 Monaten

Look at what happened to the Austin rental market after they allowed a ton of building.

Profilbild von John
Johnvor 7 Monaten

Rent control works... to create a disgruntled lower-class of revolutionaries.

Profilbild von GermanJP
GermanJPvor 7 Monaten

No kind of price control works in the long run

Profilbild von Against Narrative
Against Narrativevor 6 Monaten

I don't understand the mindset from which rent control seems "really moral." I get that many people feel that way, but it's totally alien to me.

Profilbild von Trevor Pullen
Trevor Pullenvor 7 Monaten

Why is "landlords make less money" even seen as the moral position? Say that about any worker. "Hey, wouldn't it be great if you just made less money so you could charge your customers less"?

Profilbild von Valentine Ponomaroff
Valentine Ponomaroffvor 6 Monaten

Rent control is literally saying to someone "You must help pay someone else's rent because you invested in real estate instead of the stock market." Great for the market, but not so good for real estate or the people who own it.

Profilbild von Mikli
Miklivor 7 Monaten

Feat. @sircalebhammer @TheICHpodcast

Profilbild von Social-Identity-Thief
Social-Identity-Thiefvor 6 Monaten

NYT columnist and Nobel Prize winner Paul Krugman wrote about Rent Control as the best example of a proposal that ALL economists -- Left, Right, Center, Radical, Classical, Brilliant and Plain Crazy -- all agreed upon. It's a dumb idea that never works. Krugman points out in the absence of ordinary rents new creative fees called "key money" or "curtain charges" or whatever get added on to the [regulated] rent to move the total transfer from tenants to landlords towards a more-nearly market level amount.

Profilbild von Angel Stewart
Angel Stewartvor 6 Monaten

So what’s his solution for uncontrolled rent increases then? It’s a problem… what’s his solution?

Profilbild von philly2hoboken
philly2hobokenvor 6 Monaten

The problem is rent control needs to match inflation. That's why you get a 1 bedroom apartment in the West Village NYC that is $800 a month when it should be more like $3000 a month. Why would a landlord fix/maintain an apartment when they are losing money every month?

Profilbild von his regard
his regardvor 6 Monaten

Technically, this is explaining how rent control doesn't work. Why rent control doesn't work is "rent is controlled for price increases, but nothing else (including taxes!) is".

Profilbild von Travis Thompson, PhD, LMFT
Travis Thompson, PhD, LMFTvor 6 Monaten

Policies should be judged on their actual results, not their posited intentions.

Profilbild von midiconch
midiconchvor 6 Monaten

For the people saying that there must be a solution because rent costs are rising too fast, You don't know it, but you're actually wrestling against It was the ending of the gold standard that caused this. Rent control is a political distraction.

Profilbild von Banana Republic
Banana Republicvor 7 Monaten

Strong agree on the supply side effects, but the full picture is messier than this 🤔. Rent control genuinely helped tenants stay put, especially minorities, verified by Stanford and MIT research. The real damage? Landlords just converted buildings to condos or left units empty, so the Monkey in subsidized housing wins while every other Monkey pays more 😬. The Gorilla always finds the exit door.

Profilbild von Leopold II Appreciator
Leopold II Appreciatorvor 6 Monaten

You can find a graph like this in every economics textbook in the world. It’s not a controversial subject

Profilbild von Probably Spooky
Probably Spookyvor 6 Monaten

@Thorn_of_Gold

Profilbild von Luigi's Breloom (wruse_bane)
Luigi's Breloom (wruse_bane)vor 6 Monaten

But Caleb Hammer has openly admitted he shouldn't be taken seriously when it comes to financial devices and that his show is an act? And hes been caught frauding his veiwers and subs How can y'all even use him as a credible reference when he's admitted to being a con man?

Profilbild von Xicor
Xicorvor 6 Monaten

I think the missing part here is that the fact that landlords sit on properties and dont maintain them means the laws didn't go far enough. The goal is to force the landlords to sell so that there is available housing again.

Profilbild von Brian
Brianvor 6 Monaten

This is something that needs to be repeated more often. It is both logical and moral to reject something that is supposed to help, but has a proven track record of causing harm instead.

Profilbild von Ender
Endervor 6 Monaten

Don’t bury the lead, rent control causes all the “new” renters to pay more, way more.

Profilbild von Mr Shelby
Mr Shelbyvor 6 Monaten

This is not new information, literally part I of basic economics by Thomas Sowell

Profilbild von Thomas Jefferzyn
Thomas Jefferzynvor 6 Monaten

We have evidence going back to at least the French Revolution showing the government arbitrarily setting prices doesn't work.

Profilbild von Sir. Common Sense
Sir. Common Sensevor 7 Monaten

When we became a nation of scarcity instead of a nation of production and abundance, we lost a lot of benefits.

Profilbild von John Barton
John Bartonvor 6 Monaten

“It sounds really good and really moral” if you have a child’s understanding a the world. A young and simple child.

Profilbild von That Looks Infected
That Looks Infectedvor 6 Monaten

Just basic common sense and a little analysis should tell people that rent control doesn't work and never can.

Profilbild von Mathew
Mathewvor 6 Monaten

They repealed it in Argentina recently and rent prices dropped significantly if I recall right.

Profilbild von Alan David
Alan Davidvor 6 Monaten

Permitting is in the hands of racketeers. Permitting is not the issue affected by rent control, unless it's achieved by bribing those holding the permit, and no landlord will seek a rent-controlled unit. Landlords being forced to support a non-profitable business, and finding ways out so there's no maintenance at all is the issue. Racketeers offering favors attained by force are attractive to many short-term thinkers. Then they wonder why their building went to hell and stamp their feet. Fort Apache: South Bronx is the legacy of rent control.

Profilbild von nwberniefans
nwberniefansvor 6 Monaten

lol the problem is the greedy owners: if they would have maintained the properties correctly… If they weren’t greedy and paid too much for these properties then… If our system didn’t feed this shit… Then they wouldn’t be in this situation. Bad investments.

Profilbild von STEFANO VLAHOVIC
STEFANO VLAHOVICvor 6 Monaten

How is it not clear it’s none of the Gov’s business what two private parties contract between them? Everything the Gov touches will turn to shit.

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Resetting regulated rent is the only way systems like rent stabilization can work. It’s why every other city in America with rent control allows for it. Otherwise buildings go bankrupt and apartments stay off the market like the 50,000 empty ones here in New York. New York has a housing shortage, but building new housing will be negated if we don’t bring these empty apartments back to New Yorkers who desperately need housing.
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Resetting regulated rent is the only way systems like rent stabilization can work. It’s why every other city in America with rent control allows for it. Otherwise buildings go bankrupt and apartments stay off the market like the 50,000 empty ones here in New York. New York has a housing shortage, but building new housing will be negated if we don’t bring these empty apartments back to New Yorkers who desperately need housing.

Kenny Burgos

103,238 Aufrufe • vor 9 Monaten

The rent in Providence is too high and we need real solutions to bring down costs for families. And I understand why rent control sounds compelling, but the reality is that it has consistently been shown to hurt those it is meant to help. In Cambridge, in Berkeley, in Portland, in St. Paul and more, rents actually went up under rent control and new construction plummeted. My plan provides direct rent relief now and lowers costs long-term through continued new construction. I look forward to working with the City Council to continue addressing the root cause of our housing shortage and bring down costs for all our neighbors.
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The rent in Providence is too high and we need real solutions to bring down costs for families. And I understand why rent control sounds compelling, but the reality is that it has consistently been shown to hurt those it is meant to help. In Cambridge, in Berkeley, in Portland, in St. Paul and more, rents actually went up under rent control and new construction plummeted. My plan provides direct rent relief now and lowers costs long-term through continued new construction. I look forward to working with the City Council to continue addressing the root cause of our housing shortage and bring down costs for all our neighbors.

Mayor Brett Smiley

86,095 Aufrufe • vor 5 Monaten

SITUATION EXPLAINED: Why does rent control create the exact housing crisis it claims to solve? We asked Rob Henderson, senior fellow at the Manhattan Institute and author of Troubled. "If you just say, 'I'm going to make this thing cheaper,' or 'I'm going to prevent the price from increasing,' that sounds great to a lot of people because they don't understand how market economies work." "Often to make it more intuitive, I'll point out that in cities where they have implemented rent control policies, those are the cities that have the worst housing shortages. San Francisco, the Bay Area... they've had rent control policies for decades. Has that improved the housing situation or has it only made things worse?" "People would rather manipulate prices than to build more housing."
3:40

SITUATION EXPLAINED: Why does rent control create the exact housing crisis it claims to solve? We asked Rob Henderson, senior fellow at the Manhattan Institute and author of Troubled. "If you just say, 'I'm going to make this thing cheaper,' or 'I'm going to prevent the price from increasing,' that sounds great to a lot of people because they don't understand how market economies work." "Often to make it more intuitive, I'll point out that in cities where they have implemented rent control policies, those are the cities that have the worst housing shortages. San Francisco, the Bay Area... they've had rent control policies for decades. Has that improved the housing situation or has it only made things worse?" "People would rather manipulate prices than to build more housing."

MTS

444,966 Aufrufe • vor 3 Monaten

“In many cases rent control appears to be the most efficient technique presently known to destroy a city — except for bombing.” And Mamdani is apparently running the experiment in real time. He locked in a rent freeze for a million stabilized apartments in New York and wants to expand the whole system even further. Over 80% of studies show rent control slashes new housing construction by destroying returns for builders. 93% of economists agree it reduces both the quantity and the quality of what’s available. What you actually get is a shrinking pool of controlled units and higher rents on everything else in the city. Because when you price something below what it costs to provide, less of it gets built. Every single time. New York’s about to learn exactly how fast that rule still applies when the mayor’s the one enforcing it.
0:20

“In many cases rent control appears to be the most efficient technique presently known to destroy a city — except for bombing.” And Mamdani is apparently running the experiment in real time. He locked in a rent freeze for a million stabilized apartments in New York and wants to expand the whole system even further. Over 80% of studies show rent control slashes new housing construction by destroying returns for builders. 93% of economists agree it reduces both the quantity and the quality of what’s available. What you actually get is a shrinking pool of controlled units and higher rents on everything else in the city. Because when you price something below what it costs to provide, less of it gets built. Every single time. New York’s about to learn exactly how fast that rule still applies when the mayor’s the one enforcing it.

Rothmus 🏴

28,165 Aufrufe • vor 2 Monaten

Laura Kuenssberg, "You're emphasising The Greens believe in rent control" Zack Polanski, "People are struggling, feeling the pinch" "One of the groups feeling it the most are renters who are stuck between owning their own house and people who have a council house" "They're stuck in an overinflated market where landlords can charge what they want" "There are 16 European countries that have brought in rent controls, and it has been successful" "The thing to do is to look at where rent control has not worked, and not do that" "Look at where it worked and adopt a similar system" "When Sadiq Khan was running to be Mayor he called for rent control, and said that when we have a Labour government and a Labour Mayor of London, that's what the country needs" "I don't know if people have noticed but there hasn't been much difference, and in many cases things have got worse" "The problem we need to fix are spiralling rents which are becoming more and more expensive"
2:31

Laura Kuenssberg, "You're emphasising The Greens believe in rent control" Zack Polanski, "People are struggling, feeling the pinch" "One of the groups feeling it the most are renters who are stuck between owning their own house and people who have a council house" "They're stuck in an overinflated market where landlords can charge what they want" "There are 16 European countries that have brought in rent controls, and it has been successful" "The thing to do is to look at where rent control has not worked, and not do that" "Look at where it worked and adopt a similar system" "When Sadiq Khan was running to be Mayor he called for rent control, and said that when we have a Labour government and a Labour Mayor of London, that's what the country needs" "I don't know if people have noticed but there hasn't been much difference, and in many cases things have got worse" "The problem we need to fix are spiralling rents which are becoming more and more expensive"

Farrukh

61,082 Aufrufe • vor 8 Monaten

Thomas Sowell on why rent control is so damaging: “If rent control is severe, people either reduce the amount of housing they build or they stop building housing altogether.” “Political authorities are then confronted with a situation where there’s no new housing built and the old housing is wearing out—usually faster under rent control because the landlords don’t have to keep it up as much.” “So they step in and have some kind of modification. They say, ‘We are trying to protect the poor, so we won’t regulate luxury housing.’” “Of course, luxury housing and ordinary housing use much the same labor and the same materials. Therefore, all the materials that would have otherwise gone into making ordinary housing go into building luxury housing.”
0:48

Thomas Sowell on why rent control is so damaging: “If rent control is severe, people either reduce the amount of housing they build or they stop building housing altogether.” “Political authorities are then confronted with a situation where there’s no new housing built and the old housing is wearing out—usually faster under rent control because the landlords don’t have to keep it up as much.” “So they step in and have some kind of modification. They say, ‘We are trying to protect the poor, so we won’t regulate luxury housing.’” “Of course, luxury housing and ordinary housing use much the same labor and the same materials. Therefore, all the materials that would have otherwise gone into making ordinary housing go into building luxury housing.”

Thomas Sowell Daily

30,630 Aufrufe • vor 4 Monaten

San Francisco Mayor declares a ‘Rent Emergency’ - Rents in San Francisco have increased more than 25% over the past year - More than 1,000 evictions have already been filed this year - One bedroom apartments now average $4,495 - 2 bedrooms over $6,100 - Renters are paying roughly $900 more per month than a year earlier I looked up what’s being proposed to stop this: - $30 million in new spending on top of existing $54 million for rental assistance and eviction defense - Cap rent increases at 10% per year for rent-controlled tenants - Raise Ellis Act relocation payments 25, about $3,000 more per person - Extra $3 million for Tenant Right to Counsel so 400 more households get full legal representation - Block nonpayment evictions unless the tenant owes at least one month of HUD fair-market rent - $27 million to cover a gap in expiring federal housing vouchers and other subsidies It’s really wild that a one bedroom apartment can average $4,495…. Rent prices in America are out of control I looked it up and found private equity firms and corporations have been buying up apartments complexes like crazy in the area because of the AI boom and now rents are skyrocketing…. What a shocker…. Private equity and corporations buying up our housing needs to be stopped immediately California apartments as a whole are being bought up by private equity firms, they already own over 290,000 units statewide
2:43

San Francisco Mayor declares a ‘Rent Emergency’ - Rents in San Francisco have increased more than 25% over the past year - More than 1,000 evictions have already been filed this year - One bedroom apartments now average $4,495 - 2 bedrooms over $6,100 - Renters are paying roughly $900 more per month than a year earlier I looked up what’s being proposed to stop this: - $30 million in new spending on top of existing $54 million for rental assistance and eviction defense - Cap rent increases at 10% per year for rent-controlled tenants - Raise Ellis Act relocation payments 25, about $3,000 more per person - Extra $3 million for Tenant Right to Counsel so 400 more households get full legal representation - Block nonpayment evictions unless the tenant owes at least one month of HUD fair-market rent - $27 million to cover a gap in expiring federal housing vouchers and other subsidies It’s really wild that a one bedroom apartment can average $4,495…. Rent prices in America are out of control I looked it up and found private equity firms and corporations have been buying up apartments complexes like crazy in the area because of the AI boom and now rents are skyrocketing…. What a shocker…. Private equity and corporations buying up our housing needs to be stopped immediately California apartments as a whole are being bought up by private equity firms, they already own over 290,000 units statewide

Wall Street Apes

53,924 Aufrufe • vor 22 Tagen

INSANE 🚨 - 32% of public housing in New York City is occupied by people born outside of the United States - 44% of rent-stabilized apartments in New York City are also going to people born outside of the US - 88% of public housing in New York City is occupied by Blacks and Hispanics “88%… I mean, I can't even believe they provided these numbers. Like, and they have to be baking them, right? These have to be modest numbers for New York. This is just straight-up suicidal. And of course, everyone on the left wants you to think that white people don't pay their fair share.” - Imagine the drop in rent prices if 32% of public housing was reclaimed from foreigners through deportations - Imagine the drop in rent prices if 44% of rent stabilized apartments went to Americans instead of foreigners
0:39

INSANE 🚨 - 32% of public housing in New York City is occupied by people born outside of the United States - 44% of rent-stabilized apartments in New York City are also going to people born outside of the US - 88% of public housing in New York City is occupied by Blacks and Hispanics “88%… I mean, I can't even believe they provided these numbers. Like, and they have to be baking them, right? These have to be modest numbers for New York. This is just straight-up suicidal. And of course, everyone on the left wants you to think that white people don't pay their fair share.” - Imagine the drop in rent prices if 32% of public housing was reclaimed from foreigners through deportations - Imagine the drop in rent prices if 44% of rent stabilized apartments went to Americans instead of foreigners

Wall Street Apes

119,266 Aufrufe • vor 11 Monaten

Tophiachu posted one of the dumbest Instagram stories earlier today. She’s looking for any reason to blame the internet for her being homeless. She says that Yes, they were kicked out for not paying rent. And Yes, they weren’t willing to rent to them again due to the fear of them not being able to pay rent in the future… But she knows! That they are lying! And that it’s really because of the internet! This can’t be real
0:59

Tophiachu posted one of the dumbest Instagram stories earlier today. She’s looking for any reason to blame the internet for her being homeless. She says that Yes, they were kicked out for not paying rent. And Yes, they weren’t willing to rent to them again due to the fear of them not being able to pay rent in the future… But she knows! That they are lying! And that it’s really because of the internet! This can’t be real

SmokeyMcCrack

23,400 Aufrufe • vor 1 Jahr

California residents are PISSED at Los Angeles potentially paying the rent of illegals so they don’t have to go to work and risk running into ICE “LA county wants to pay rent, using our taxayers money, to go pay rent for illegals who can't go to work. Mind you, they f*cking weren't supposed to be in the United States to work in the first place. Now you wanna f*ckin go and help them pay their rent?” “How about we prioritize those landlords and give those housing units to people who deserves them, like veterans, like the homeless people that are out there. There's more than enough. So we want to prioritize these illegals who weren't supposed to be here to work in the first place, who works and sends their money to their families to build their luxury home to retire in their f*cking country anyways” This is EXACTLY what happens. They claim our benefits, send all the money they make back to Mexico and build their dream homes and ranches for lower costs. This has been the Mexican worker scam for decades
1:29

California residents are PISSED at Los Angeles potentially paying the rent of illegals so they don’t have to go to work and risk running into ICE “LA county wants to pay rent, using our taxayers money, to go pay rent for illegals who can't go to work. Mind you, they f*cking weren't supposed to be in the United States to work in the first place. Now you wanna f*ckin go and help them pay their rent?” “How about we prioritize those landlords and give those housing units to people who deserves them, like veterans, like the homeless people that are out there. There's more than enough. So we want to prioritize these illegals who weren't supposed to be here to work in the first place, who works and sends their money to their families to build their luxury home to retire in their f*cking country anyways” This is EXACTLY what happens. They claim our benefits, send all the money they make back to Mexico and build their dream homes and ranches for lower costs. This has been the Mexican worker scam for decades

Wall Street Apes

640,052 Aufrufe • vor 1 Jahr

Something must be done about the cost of rent crisis in America American lives in the Midwest, where prices are supposed to be reasonable He got an eviction notice on his apartment, it’s $1,800 per month He makes minimum wage, it’s only $7.25 an hour… “What is wrong with Wisconsin prices? Why have they all of a sudden surged? The Midwest was supposed to be a place of peace, of stability. You could get a freaking house here for like under $200K, and now prices have gone through the roof. This is absurd. What is going on?” He has to reply on tips to pay his rent, and after bills he has nothing left Let’s look into Midwest rent price data Average 1-bedroom rent: Around $1,300 statewide, but $1,800+ is common in Milwaukee and other larger cities People priced out of California, New York, Illinois and more are moving to the Midwest for “affordability,” increasing demand Places like Milwaukee are now at a 94% occupancy rate, the fact that there are no units available has skyrocketed prices But another big reason… Corporate landlords and private equity have bought up tons of properties We can’t continue like this
1:25

Something must be done about the cost of rent crisis in America American lives in the Midwest, where prices are supposed to be reasonable He got an eviction notice on his apartment, it’s $1,800 per month He makes minimum wage, it’s only $7.25 an hour… “What is wrong with Wisconsin prices? Why have they all of a sudden surged? The Midwest was supposed to be a place of peace, of stability. You could get a freaking house here for like under $200K, and now prices have gone through the roof. This is absurd. What is going on?” He has to reply on tips to pay his rent, and after bills he has nothing left Let’s look into Midwest rent price data Average 1-bedroom rent: Around $1,300 statewide, but $1,800+ is common in Milwaukee and other larger cities People priced out of California, New York, Illinois and more are moving to the Midwest for “affordability,” increasing demand Places like Milwaukee are now at a 94% occupancy rate, the fact that there are no units available has skyrocketed prices But another big reason… Corporate landlords and private equity have bought up tons of properties We can’t continue like this

Wall Street Apes

75,694 Aufrufe • vor 4 Monaten

At first I thought this was in NYC because it’s common for homeless people and drug addicts to end up squatting in buildings, but the rent amount threw me off since you can’t rent anything at that price. It turns out commenters guessed correctly that it is another Democrat-run state, Oregon.
0:26

At first I thought this was in NYC because it’s common for homeless people and drug addicts to end up squatting in buildings, but the rent amount threw me off since you can’t rent anything at that price. It turns out commenters guessed correctly that it is another Democrat-run state, Oregon.

I Meme Therefore I Am 🇺🇸

375,723 Aufrufe • vor 8 Monaten

How can we understand the power of ideology? Stephen Kotkin offers up NYC Mayor Zohran Mamdani as an example: “So there's this young kid who's really adept at social media who just looks like he won the primary for a Democratic candidate for mayor in New York City. And one of the things he wants to do is freeze rents because he wants more affordable housing. So he's a complete idiot in terms of facts. The way to get more affordable housing is to build more housing. If supply massively increases and it exceeds demand, the price has to go down. It's proven again and again and again. And what rent control does or freezing of rent, it inhibits the building of new housing. Because who's going to build new housing when you can't make money off of it? Rent control is what produces the lack of affordable housing in the first place. So he sees what's the problem as the solution now. Now, is he a fool? No, he's a really bright guy. He's very well educated.”
2:19

How can we understand the power of ideology? Stephen Kotkin offers up NYC Mayor Zohran Mamdani as an example: “So there's this young kid who's really adept at social media who just looks like he won the primary for a Democratic candidate for mayor in New York City. And one of the things he wants to do is freeze rents because he wants more affordable housing. So he's a complete idiot in terms of facts. The way to get more affordable housing is to build more housing. If supply massively increases and it exceeds demand, the price has to go down. It's proven again and again and again. And what rent control does or freezing of rent, it inhibits the building of new housing. Because who's going to build new housing when you can't make money off of it? Rent control is what produces the lack of affordable housing in the first place. So he sees what's the problem as the solution now. Now, is he a fool? No, he's a really bright guy. He's very well educated.”

Dwarkesh Podcast

26,591 Aufrufe • vor 1 Jahr

When you ban credit checks, income checks, and evictions… rents don’t go down. They go 3x higher — or turn into ghost apartments. Chamath Palihapitiya "The obvious answer is you'd start rent three or four times higher and you force people to sign up to a multi-month prepayment and you'd slowly ease those conditions until you find a market clearing price." David Sacks "What's their incentive to pay when they know they can't be evicted? Zero. So a pretty significant percentage of people could just decide, 'I'm going to make rent optional.' Now the landlord has to absorb those losses, and that means they have to pass on a higher rent to everybody else." @jason "Not only do the landlords keep the dilapitated apartments in some cases, it's better for them to just leave apartments empty. Somebody leaves, they are forced to renovate it and it costs hundreds of thousands in renovations. So, they say, 'You know what? I'll just leave it empty for now.' So you have 50,000 ghost apartments in New York City."
2:28

When you ban credit checks, income checks, and evictions… rents don’t go down. They go 3x higher — or turn into ghost apartments. Chamath Palihapitiya "The obvious answer is you'd start rent three or four times higher and you force people to sign up to a multi-month prepayment and you'd slowly ease those conditions until you find a market clearing price." David Sacks "What's their incentive to pay when they know they can't be evicted? Zero. So a pretty significant percentage of people could just decide, 'I'm going to make rent optional.' Now the landlord has to absorb those losses, and that means they have to pass on a higher rent to everybody else." @jason "Not only do the landlords keep the dilapitated apartments in some cases, it's better for them to just leave apartments empty. Somebody leaves, they are forced to renovate it and it costs hundreds of thousands in renovations. So, they say, 'You know what? I'll just leave it empty for now.' So you have 50,000 ghost apartments in New York City."

jay plemons

15,808 Aufrufe • vor 2 Monaten

Today, I am proud to announce that I will be proposing “Zohran’s law," a law that will keep the rich out of New York’s affordable housing. Zohran Kwame Mamdani : you say freeze the rent. But for who? Rich people like you? Hardworking, working class New Yorkers are being pushed from their neighborhoods. Let’s build affordable housing that helps the people who need it. Under Zohran’s law, landlords can no longer rent vacant rent-controlled units to the wealthy. You are a rich person stealing affordable housing from the poor. And you’re not the only one. It’s past time we address this injustice. Let’s build a new NYC that works for the people who need it.
0:30

Today, I am proud to announce that I will be proposing “Zohran’s law," a law that will keep the rich out of New York’s affordable housing. Zohran Kwame Mamdani : you say freeze the rent. But for who? Rich people like you? Hardworking, working class New Yorkers are being pushed from their neighborhoods. Let’s build affordable housing that helps the people who need it. Under Zohran’s law, landlords can no longer rent vacant rent-controlled units to the wealthy. You are a rich person stealing affordable housing from the poor. And you’re not the only one. It’s past time we address this injustice. Let’s build a new NYC that works for the people who need it.

Andrew Cuomo

16,033,935 Aufrufe • vor 1 Jahr

6 families are facing eviction in San Francisco after a rent controlled apartment was sold and the new owners want them out One of the tenants immigrated to America 50 years ago and doesn’t speak English. The families pay just $600 when the average cost of a 1 bedroom is $4,000 in the area and 2 bedrooms rent for nearly $6,000 The rent controlled units there range from $600 to only $1,300 a month so they won’t be able to afford the average rental price in the area they say Th tenants are saying there is discrimination taking place The Ellis Act is being used to evict which allowed the new owners to evict current tenants after a set amount of time if the new owners want to live there
7:43

6 families are facing eviction in San Francisco after a rent controlled apartment was sold and the new owners want them out One of the tenants immigrated to America 50 years ago and doesn’t speak English. The families pay just $600 when the average cost of a 1 bedroom is $4,000 in the area and 2 bedrooms rent for nearly $6,000 The rent controlled units there range from $600 to only $1,300 a month so they won’t be able to afford the average rental price in the area they say Th tenants are saying there is discrimination taking place The Ellis Act is being used to evict which allowed the new owners to evict current tenants after a set amount of time if the new owners want to live there

Wall Street Apes

512,849 Aufrufe • vor 1 Monat

This is how bad the San Francisco housing market is This is a “shared room” for rent, it looks similar to a dorm room setup. It’s only 150 square feet The price is $2,600 per month….. The average cost of a 1 bedroom in San Francisco in about $4,300 and for a 2 bedroom you’d be looking at about $6,400 Rent prices in America have to come down
1:22

This is how bad the San Francisco housing market is This is a “shared room” for rent, it looks similar to a dorm room setup. It’s only 150 square feet The price is $2,600 per month….. The average cost of a 1 bedroom in San Francisco in about $4,300 and for a 2 bedroom you’d be looking at about $6,400 Rent prices in America have to come down

Wall Street Apes

62,000 Aufrufe • vor 1 Monat

Landlord in New York says he will not be able to maintain his properties because of Zohran Mamdani’s rent freeze He says it’s because of property taxes, each of his 3 units he owned breaks down to $1,000 per month each in property taxes and they go up every year. With a rent freeze and property taxes continuing to go up, he will have to pay off people and not be able to maintain his building I verified this with city wide averages and yes, property taxes on good location parts of New York break down to $800-$1,500 per month in property taxes per unit. Insanity
1:04

Landlord in New York says he will not be able to maintain his properties because of Zohran Mamdani’s rent freeze He says it’s because of property taxes, each of his 3 units he owned breaks down to $1,000 per month each in property taxes and they go up every year. With a rent freeze and property taxes continuing to go up, he will have to pay off people and not be able to maintain his building I verified this with city wide averages and yes, property taxes on good location parts of New York break down to $800-$1,500 per month in property taxes per unit. Insanity

Wall Street Apes

536,059 Aufrufe • vor 3 Monaten