Rents in California are notoriously high. The average price for an apartment in San Francisco is about $3,600 per month (that’s about twice as high as Miami and Chicago). But blocking that price from increasing won’t create more homes for people who need a place to live.Oregon in February passed a law which limits rent increases to 7% plus local inflation. Lawmakers in Colorado and New York are considering similar moves.The prospect of rent control comes during a time when the apartment business has been strong, and analysts expect the new bills to have a negative effect on the industry.“It has been proven time and again that rent control does not work,” argues Sid Lakireddy, president of the California Rental Housing Association. “We do not need more distractions and resources spent on failed policies but instead we need policies that encourage more affordable and accessible housing.”
# – # – # – # – #
“Rent Control”, anohter great Socialist idea, is just stupid.
— 30 —