National rent control? The usual suspects think it is a great idea. What say you?

[g5000]

You left out your source and working link.

It's right there in the OP link:

The president is directing the Federal Housing Finance Agency (FHFA) to examine limits on rent increases for future investments and actions promoting renter protections.

 

[Markle]

It's right there in the OP link:

The president is directing the Federal Housing Finance Agency (FHFA) to examine limits on rent increases for future investments and actions promoting renter protections.

Please show us the part where it says "exorbitant".

Even you must know this is a horrible idea. Besides, even if it included "exorbitant", who decides what is exorbitant?

 

[g5000]

Most rentals are owned by individuals, not corporations

That is becoming less and less true. Due to the rent moratorium, many individual renters were plowed under and their properties were sucked up by LLC's.

 

[g5000]

Besides, even if it included "exorbitant", who decides what is exorbitant?

Seriously, you need to pay attention. This topic is about a congressional bill to limit rent increases.

So guess who is deciding.

 

[Markle]

Seriously, you need to pay attention. This topic is about a congressional bill to limit rent increases.

So guess who is deciding.

Good thing, bad thing?

 

[Independent thinker]

The way to lower rents is to encourage people to provide rental housing. Excess supply always lowers prices.

Encourage people to provide rental housing? What the hell does that mean?

 

[Markle]

Encourage people to provide rental housing? What the hell does that mean?

Tax incentives.

Owning rental properties is not all fun and games. I was a Realtor for over 45 years. I owned rental properties. I hated managing them so much that I turned them over to a management company and happily paid a 10% management fee.

 

[Jarlaxle]

You are better off buying.

Hell no. I dumped my house and wish I'd done it sooner.

Based upon the experience of localities that have rent control it will do nothing but reduce the supply of rental units. Why would someone buy rental properties and have to rent them out at a loss? More rental units will be taken off the market and converted to half-ass condos.

The second-best way to destroy a city is rent control.

A small one bedroom in Atlanta is $1400 plus utilities. Wages and salaries will increase or we'll have lots of homeless people.

Then build some apartments and rent them out for $900.

How far would you have to commute to find a 1400 apartment if you worked in Manhattan- a rent control environment?

If rents are too high, people can share apartments, rent sleeping rooms, trailers or find an old lady willing to take in boarders.

Some places have actually banned that.

 

[Jarlaxle]

California has been working on that by slowly getting rid of single family home zoning.

What just happened with single-family zoning in California?

Gov. Gavin Newsom signed legislation that allows more than one unit to be built on lots zoned for only one. It sounds technical, but it's a major change in California housing policy. Here's what it means.

www.latimes.com

In the end they want people to rent, to live in crowded and dense areas. To rent is to live in a endless loop of working just to have a place to live, always sipping away at your finances to perpetually be paying money for something you will never own.

I used to rent then one day I said "this is stupid, I pay almost in much in rent as I do a mortgage payment". So I bought a house on a acre of land, I still pay through the nose but one day it will belong to me. A renter never owns anything.

But it goes a long with what the world economic forum wants, to us be happy by not owning a thing. Rent control will perpetuate that and will be the government putting it's foot further in the door of people's lives.

Not owning anything is slowly encroaching on our lives. Even Apple (a member of the world economic forum) is getting people used to the idea by introducing a plan to have apple users rent their phones by subscripting to hardware.

Apple Is Working on a Hardware Subscription Service for IPhones

Apple Inc. is working on a subscription service for the iPhone and other hardware products, a move that could make device ownership similar to paying a monthly app fee, according to people with knowledge of the matter.

www.bloomberg.com

In the end rent control may sound great to everyday dumb people because to them they are being taken care of but they will pay just as much but other means as renters invent new ways to get their money.

Some people have no interest in the millstone and unpaid part-time job that is owning a house. I'm in a nice apartment for not much more than JUST THE PROPERTY TAXES on my house.

 

[AZrailwhale]

Encourage people to provide rental housing? What the hell does that mean?

Remove the regulatory constraints that landlords face, stop making it nearly impossible to evict bad tenants and offer tax incentives for the construction and operation of rental housing. Is that simple enough for you?

 

[Jarlaxle]

If you can afford rent, you can afford a mortgage.

That is the stupidest thing ever posted on the internet.

 

[AZrailwhale]

That is the stupidest thing ever posted on the internet.

Rental prices and mortgage prices are generally very close.

 

[blackhawk]

One size fits all usually ends badly.

 

[Independent thinker]

Tax incentives.

Owning rental properties is not all fun and games. I was a Realtor for over 45 years. I owned rental properties. I hated managing them so much that I turned them over to a management company and happily paid a 10% management fee.

I'm still not understanding. How do you encourage people to provide rental housing when they are already providing rental housing? It sounds to me like they want people to start renting out rooms in their houses, or in some other way talking them into renting out spaces which currently aren't for rent now.

 

[Jarlaxle]

Rental prices and mortgage prices are generally very close.

Horseshit.

 

[Independent thinker]

Remove the regulatory constraints that landlords face, stop making it nearly impossible to evict bad tenants and offer tax incentives for the construction and operation of rental housing. Is that simple enough for you?

Removing regulatory constraints landlords face and increasing evictions does not make more rentals available. Landlords are already renting and if you evict a person to be replaced with another person then you aren't making any progress. Now tax incentives for the construction and operation of rental housing would increase rentals available.

 

[Toddsterpatriot]

Removing regulatory constraints landlords face and increasing evictions does not make more rentals available. Landlords are already renting and if you evict a person to be replaced with another person then you aren't making any progress. Now tax incentives for the construction and operation of rental housing would increase rentals available.

Removing regulatory constraints landlords face and increasing evictions does not make more rentals available.

Sure it does.

Landlords are already renting and if you evict a person to be replaced with another person then you aren't making any progress.

If you're renting your single property and the government makes your life harder,
how likely are you to buy or build and rent a second or third property?

 

[Toddsterpatriot]

How do you encourage people to provide rental housing when they are already providing rental housing?

How do you keep them renting if the government makes them miserable?
Does anyone ever get tired of jumping thru the hoops and stop renting?

 

[Markle]

I'm still not understanding. How do you encourage people to provide rental housing when they are already providing rental housing? It sounds to me like they want people to start renting out rooms in their houses, or in some other way talking them into renting out spaces which currently aren't for rent now.

Tax incentives and reducing taxes encourage people to buy and hold rental properties. Has nothing to do with renting out rooms. Increasing taxes encourages people to do less of whatever you're taxing. The theory isn't difficult to understand except, seemingly, for Democrats. It has a name, the Laffer Curve.

 

[Markle]

Horseshit.

Usually, they do, as with everything else, they get out of whack and then drift back.