alt Hacker NewsRent control absolutely causes a reduction in supply: there's a reason rent controlled buildings have apartments in poor condition that owners do not renovate (so a reduction in quality supplied) and many are held off market or converted to owner occupancy through condos and TICs (so a reduction in quantity supplied). Not to mention the units underused by long term tenants who maintain them as secondary residences.
Replies
bcrosby95 • yesterday at 9:43 PM
Yes but it builds into my argument - it does not counter it. Reduced supply... increases rent. I'm saying "increased rents + rent control not applying = more people should want to build". And the person I'm replying to said rent control makes people not want to build.
>> If this - "High-income job losses are cooling housing demand" is true, doesn't this mean UBI would never work?
I've even see a rent controlled apartment in manhattan being used as a storage unit !!!