The Democrats in Florida are losing their shit because rents are increasing so much. Now they are putting forward a plan where they accuse landlords of price gouging. They are also wanting to pass a law that implements statewide rent control. They themselves are the ones to blame for increasing rent.
For a year and a half, renters lived in homes without paying rent, and there was nothing landlords could do about it. During that time, those same tenants received government checks and many of them didn’t pay a single dollar of it in rent. This increased the risk of investment for landlords. As anyone with a lick of economic sense knows, an investment with increase risk always comes with a higher price tag.
That’s exactly what we see happening all over the country- rents have increased by as much as 25% per month. I’ve been warning that this was coming for over a year and a half.
Communism always begins by vilifying landlords. I raised my rent by 7.3 percent this year. I could have raised it more. I am keeping a close eye on this, because a statewide law capping increases will force my hand. The exact wording of this proposed law can cause all sorts of reactions. For example:
- If the law caps increases at 10%, I will simply raise rent by 10% every year.
- Rent on my property currently includes lawn maintenance. If such a law passes, it no longer will. That cost is the same as a 4% increase in rent.
- If it’s too onerous, I will simply sell the property and take the equity out in profit, as many others will. My rental property has increased in value by more than 32% since I bought it. Now there will be no rentals at any price.
Nice job, commies.
11 Comments
TechieDude · December 17, 2021 at 8:56 am
I’m of an age where I’ve seen these idiots do stuff like this over and over. It never ends. They fart around, do something stupid. Those that know what they are doing tell them it’s stupid so they call them hateful, racist, bigot meanies.
Then it blows up and they look for kulaks to blame.
We live in a stupid age.
It’s all so tiresome.
SiG · December 17, 2021 at 9:28 am
My favorite perspective on rent controls is that even the Vietnamese communists realized that rent controls were stupid and harmful.
NEW DELHI—A “romantic conception of socialism” … destroyed Vietnam’s economy in the years after the Vietnam war, Foreign Minister Nguyen Co Thach said Friday.
Addressing a crowded news conference in the Indian capital, Mr. Thach admitted that controls … had artificially encouraged demand and discouraged supply…. House rents had … been kept low … so all the houses in Hanoi had fallen into disrepair, said Mr. Thach.
“The Americans couldn’t destroy Hanoi, but we have destroyed our city by very low rents. We realized it was stupid and that we must change policy,” he said.
—From a news report in Journal of Commerce, quoted in Dan Seligman, “Keeping Up,” Fortune, February 27, 1989.
Which means that the real, actual communists are smarter about their failures than the American “wannabe communists”. They realized that their rent controls destroyed Hanoi more effectively than US bombs ever could.
It's just Boris · December 17, 2021 at 10:29 am
Are they trying to make slumlords? Because this is how you get slumlords.
Skyler the Weird · December 17, 2021 at 2:29 pm
All by design to make the Central Communist Government the landowner and landlord.
Skyler the Weird · December 18, 2021 at 9:30 am
Also inflation and the real estate bubble in addition to driving up the price of home equity, also increases the property tax value. Taxes on even properties in the ghetto will be so high as to force landowners to sell
why · December 18, 2021 at 5:48 pm
The very concept of “property tax” ensures you’ll never “own” anything. Though my house is paid off (for the bank), I’ll never truly own it. IF I don’t pay my property tax, the sheriff swoops in to confiscate. Which means if I don’t pay $5K in taxes, I can lose a $200K house.
Divemedic · December 19, 2021 at 5:15 am
Yes, but once the state sells the house at auction, they have to return remaining funds to the owner of record. It isn’t like they can turn a 5k tax bill into a 200k tax windfall. This isn’t asset forfeiture.
why · December 19, 2021 at 9:13 pm
Not in TX. Your $200K house can be bought for “tax owed”, though granted it won’t be $5K since penalties and interest have accrued since first goes into delinquency (~ 2 years in a arrears)
Divemedic · December 19, 2021 at 9:57 pm
You can petition to have the excess returned to you.
http://walkersecuritieslaw.com/property-excess-proceeds-recovery/
Jonathan · December 17, 2021 at 10:36 pm
Are the expensive areas one where housing has been limited by local governments, or is there just that much demand across the state?
Divemedic · December 19, 2021 at 5:17 am
Demand is up, and many landlords got out of the game and sold, partly due to climbing house prices, partly due to the eviction moratorium.
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