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  • California passes Rent Control

    https://www.huffpost.com/entry/calif...b06ddfc5103b39

    Caps annual rent increases to 5%.

    Rent control has worked so well in the past, I'm sure it will work just as well here.

    I like your Christ, I do not like your Christians. Your Christians are so unlike your Christ.
    -Mahatma Gandhi quotes (Indian Philosopher, internationally esteemed for his doctrine of nonviolent protest, 1869-1948)

    It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.
    -Sherlock Holmes in A study in Scarlet


  • #2
    Originally posted by robert4818 View Post
    https://www.huffpost.com/entry/calif...b06ddfc5103b39

    Caps annual rent increases to 5%.

    Rent control has worked so well in the past, I'm sure it will work just as well here.
    Our state is so whack ...

    a friend of mine owns multiple rentals in our community. He has a triplex he purchased and is bringing it back to rent-ability. I enquirer about it as I am currently looking for housing. I was stunned when he told me the prices for the units (the units are idenrical). Two of them are section 8 housing and he will receive $1420 for each of those units. The third is cash pay and is $700 a month. No wonder we have no money to care for our vets or our students.
    One cannot and must not try to erase the past merely because it does not fit the present. Golda Meir
    Fundies say the darndest things - simplicio

    Every saint has a past, every sinner has a future.

    Darkness cannot drive out darkness; only light can do that.” - Martin Luther King Jr.

    as long as there is life, there is hope.

    what unites us is stronger than what divides us...

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    • #3
      Originally posted by robert4818 View Post
      https://www.huffpost.com/entry/calif...b06ddfc5103b39

      Caps annual rent increases to 5%.

      Rent control has worked so well in the past, I'm sure it will work just as well here.
      Truly insane. It’s like math doesn’t matter any more......until it does.


      however, I think the timing of this is convenient, as we are near the top of a business cycle and prices are likely to level off anyway for s good while. So their scheme will not look like an utter disaster. But in booming times, it will create all kind of shortage and black market overrides.

      Comment


      • #4
        Originally posted by cas07 View Post

        Our state is so whack ...

        a friend of mine owns multiple rentals in our community. He has a triplex he purchased and is bringing it back to rent-ability. I enquirer about it as I am currently looking for housing. I was stunned when he told me the prices for the units (the units are idenrical). Two of them are section 8 housing and he will receive $1420 for each of those units. The third is cash pay and is $700 a month. No wonder we have no money to care for our vets or our students.
        The city of Santa Monica is a small city that fronts the ocean which passed their own strict rent control ordinance decades ago. What happened was that people never left their apartments because they knew if they did they would have to pay lots more somewhere else. \

        If you were a developer, you are not going to build apartments anymore. You will either not build or build a condominium project or commercial building. If you are not allowed to do that, you would take your money elsewhere. Rent control DECREASES the amount of rental units in a city. It has the exact opposite effect of what is intended.
        “When the debate is lost, slander becomes the tool of the loser.” - Socrates

        "The concept of a "Personal God," interfering with natural events,...." No criticism of this distorted idea of God can be sharp enough". - Tillich

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        • #5
          Originally posted by Deist View Post

          The city of Santa Monica is a small city that fronts the ocean which passed their own strict rent control ordinance decades ago. What happened was that people never left their apartments because they knew if they did they would have to pay lots more somewhere else. \

          If you were a developer, you are not going to build apartments anymore. You will either not build or build a condominium project or commercial building. If you are not allowed to do that, you would take your money elsewhere. Rent control DECREASES the amount of rental units in a city. It has the exact opposite effect of what is intended.
          Leftists trying to ticker society into their vision of utopia, and it usually makes matters worse.

          Like when Santa Barbara decided to allow homeless to sleep in their central park. A do-good gesture. Then the park became a Mecca for transients throughout the state and elsewhere, clogging the park with trash and drugs and whackos, to where locals are threatening to move away and take their taxes with them.

          https://www.edhat.com/news/santa-bar...-close-earlier

          As far as rent control, yeah. It's like the pinheaded college professors who claim communism will work if only we try it again. And again. And again...

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          • #6
            Originally posted by robert4818 View Post
            https://www.huffpost.com/entry/calif...b06ddfc5103b39

            Caps annual rent increases to 5%.

            Rent control has worked so well in the past, I'm sure it will work just as well here.
            There are no words for how destructive leftist policies are for the average American. I would like to ask anyone who supports this idea to share an example of rent control working in a real life situation.
            "Now, what is the Sacrament of the Altar!
            Answer: It is the true body and blood of our Lord Jesus Christ, in and under the bread and wine which we Christians are commanded by the Word of Christ to eat and to drink."

            Martin Luther "The Large Cathechism"

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            • #7
              I wouldn't mind California sucking so much if only we didn't end up having to pay for it and if only the morons didn't invade our states when they see the consequences of their political policies.

              Think I'll watch San Andreas again. Good movie.
              The federal government is the only place in the world where ineptitude and corruption is met with demands for more ineptitude and corruption. - Buck Sexton

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              • #8
                Originally posted by Ronson View Post

                As far as rent control, yeah. It's like the pinheaded college professors who claim communism will work if only we try it again. And again. And again...
                of course. Communism always works if it is done correctly.......!!!!!!

                I have never seen a case "done correctly"

                Comment


                • #9
                  Originally posted by Ronson View Post

                  Leftists trying to ticker society into their vision of utopia, and it usually makes matters worse.

                  Like when Santa Barbara decided to allow homeless to sleep in their central park. A do-good gesture. Then the park became a Mecca for transients throughout the state and elsewhere, clogging the park with trash and drugs and whackos, to where locals are threatening to move away and take their taxes with them.

                  https://www.edhat.com/news/santa-bar...-close-earlier

                  As far as rent control, yeah. It's like the pinheaded college professors who claim communism will work if only we try it again. And again. And again...
                  The entire state under our new socialist governor Newsom is affected; not just a few cities. Rent increases are capped at 5% plus inflation. It applies to only apartments and not single family residences. Naturally apartments are what those of limited means would rent. What this will do is NOT make landowners be chomping at the bit to build apartment buildings on vacant land. Most all of the apartment complexes are done by investors who form LLCs and pool their money together because it costs millions to build apartment complexes. They weighed the cost of the land, the cost of permits, the cost of time, the cost of material and labor and those were only estimates because they could be off by anywhere from 1-20% or more on their calculations. IOW, the LLC investors took a gamble, a risk or their hard earned money and factored in the fact that they could get rent increases BASED ON THE MARKET and not based on some government cap of 5%.

                  Now that would be investors know that the State will cap them at no more than a 5% return they will NOT build apartments. When investors eye a vacant piece of land, they will do so ONLY if they can build condominiums or single family homes or some commercial project. Before anyone buys vacant land anymore in California they will check with the City and see if that parcel is zoned for apartments only and, if so, they just won't buy it. ANY parcel zoned only for apartments will sit fallow and be basically worthless.

                  For this reason, housing units in California will decrease dramatically over the future years, making the homeless problem even worse. This is why we cannot have people in power who don't understand economics and risk versus monetary return. They think that people should do what they want them to do and that there are investors out there who can be required to build apartments with their money instead of putting their money to work in Texas or Florida where they aren't capped. 5% is a ridiculous rate of return on apartments. They are the worst when it comes to tenant abuse and maintenance costs and management fees. 5% actually leaves an owner with about a 2% return.
                  “When the debate is lost, slander becomes the tool of the loser.” - Socrates

                  "The concept of a "Personal God," interfering with natural events,...." No criticism of this distorted idea of God can be sharp enough". - Tillich

                  Comment


                  • #10
                    Originally posted by Ronson View Post

                    Leftists trying to ticker society into their vision of utopia, and it usually makes matters worse.

                    Like when Santa Barbara decided to allow homeless to sleep in their central park. A do-good gesture. Then the park became a Mecca for transients throughout the state and elsewhere, clogging the park with trash and drugs and whackos, to where locals are threatening to move away and take their taxes with them.
                    Palm Beach County is becoming like that. We have great, conservative leadership at the state level, but the libs control all the cities in SoFlo. We have a park on every corner, but you're afraid to let the women and children in your family go there because of all the homeless people there.
                    The federal government is the only place in the world where ineptitude and corruption is met with demands for more ineptitude and corruption. - Buck Sexton

                    Comment


                    • #11
                      Originally posted by robert4818 View Post
                      https://www.huffpost.com/entry/calif...b06ddfc5103b39

                      Caps annual rent increases to 5%.

                      Rent control has worked so well in the past, I'm sure it will work just as well here.
                      Was it done through a legal process?

                      Comment


                      • #12
                        Originally posted by Zaphod View Post

                        Was it done through a legal process?

                        It was. Are you making any point?
                        Last edited by robert4818; 10-09-19, 11:59 AM.
                        I like your Christ, I do not like your Christians. Your Christians are so unlike your Christ.
                        -Mahatma Gandhi quotes (Indian Philosopher, internationally esteemed for his doctrine of nonviolent protest, 1869-1948)

                        It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.
                        -Sherlock Holmes in A study in Scarlet

                        Comment


                        • #13


                          The analysis of rent control is among the best-understood issues in all of economics, and -- among economists, anyway -- one of the least controversial. In 1992 a poll of the American Economic Association found 93 percent of its members agreeing that ''a ceiling on rents reduces the quality and quantity of housing.'' Almost every freshman-level textbook contains a case study on rent control, using its known adverse side effects to illustrate the principles of supply and demand. Sky-high rents on uncontrolled apartments, because desperate renters have nowhere to go -- and the absence of new apartment construction, despite those high rents, because landlords fear that controls will be extended? Predictable. Bitter relations between tenants and landlords, with an arms race between ever-more ingenious strategies to force tenants out -- what yesterday's article oddly described as ''free-market horror stories'' -- and constantly proliferating regulations designed to block those strategies? Predictable.


                          --Paul Krugman
                          I like your Christ, I do not like your Christians. Your Christians are so unlike your Christ.
                          -Mahatma Gandhi quotes (Indian Philosopher, internationally esteemed for his doctrine of nonviolent protest, 1869-1948)

                          It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.
                          -Sherlock Holmes in A study in Scarlet

                          Comment


                          • #14
                            Bump
                            I like your Christ, I do not like your Christians. Your Christians are so unlike your Christ.
                            -Mahatma Gandhi quotes (Indian Philosopher, internationally esteemed for his doctrine of nonviolent protest, 1869-1948)

                            It is a capital mistake to theorize before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts.
                            -Sherlock Holmes in A study in Scarlet

                            Comment


                            • #15
                              Originally posted by robert4818 View Post


                              It was. Are you making any point?
                              No that poster isn't making a point they just dont know what else to say.
                              "Now, what is the Sacrament of the Altar!
                              Answer: It is the true body and blood of our Lord Jesus Christ, in and under the bread and wine which we Christians are commanded by the Word of Christ to eat and to drink."

                              Martin Luther "The Large Cathechism"

                              Comment

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