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L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
(www.latimes.com)
this post was submitted on 09 Jun 2024
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If it's textbook, can you describe the textbook examples?
I learned this in my Econ101 class; if you impose rent control you will disinsintivize investment into building homes exacerbating the problem of housing supply. Some one in my class literally asked why rent control was common in places like NY and my Econ teacher dodged the question. Econ101 in the US is basically neoliberal indoctrination.
The easiest response to the textbook is to point out that the current problem isn’t supply. In the US we have 6 houses for every homeless person. We have plenty of housing stock. The problem monopoly power over housing.
Beyond that I believe that housing investment should be managed cooperatively; rather than by the profit incentive.
Can you explain the monopoly bit without me watching a youtube video?
Literally every single time anyone has ever (literally ever) linked me a Youtube video to explain something or serve as a source, that video could have been summarized in an article that would take less than 60 seconds to read. The trend should die.
TLDW: Landlords are colluding to fix pricing with algorithms. The FBI is actually doing something good for once and breaking them up.