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War on the Right

Rent control

In reference to the article that was the subject of yesterday’s post on evictions, there is this comment:

Maybe it’s time for nationwide rent control. We can set a specific allowable profit percentage on all rentals and take greed out of the mix. Kinda like they do for public utilities. You want an increase, you petition the oversight board and prove you need it.

Communism always starts by vilifying the landlords.

3 replies on “Rent control”

Wherever implemented, rent control has messed up the housing market. Now, the Covid Controllers℠ have forbidden evictions for non-payment of rent, due to the Covid Crisis®. Then, there’s Equitable Housing™, or Housing Equity™, not to be confused with home equity. Yet, the Homeless© have the “right” to live rent-free and on public sidewalks and to relieve themselve in the public commons. The good news is, the government owns all the residential mortgages, so, we “owners” get to pay taxes on property that we don’t actually own. We’re all renters.

Who decides what is “reasonable”? Who decides what expenses are allowed and when, if, or how much increases are allowed? I’m sure that the commenter has never been a landlord…
In most cases, landlords don’t have a large profit and they DO face large risks and potential costs from the actions of others (tenants) which is why many small landlords are selling off their units and getting out of the business.

This is going to decimate the rental housing market. There’s going to be a lot of rental properties foreclosed.
It’s going to hurt the people most that is ‘supposed’ to help. Then the government will get the bright idea of expanding the public housing administration. For the public good and compassion, of course…
And where it stops, who knows.

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