So you are saying it subsidizes old people? I guess you can feel like that is a bad thing.
But once in, the new people become the old people and benefit as well. Where as without rent control they would pay the same price on move-in, then higher and higher as time goes by. All while the landlord is paying the same mortgage, and gaining equity as the value of the property goes up.
Without rent control, old people would be forced to move out of the city, taking thier income (social security, pension and what not) with them. The amount of jobs in the city won't have changed, so there will be less money overall. Vacancy will go up, Rent will stagnate as will property value. Properties will not be maintained and close down. Small businesses won't have as many customers, so they will shut down. Urban decay will set in. City services will get a lot more expensive due to all the dead areas and the people laft will have to pay for it. But it won't be enough. So they will move out too.
Sounds like rent control is working as intended, and actually benefitting both sides.
So you are saying it subsidizes old people? I guess you can feel like that is a bad thing.
But once in, the new people become the old people and benefit as well. Where as without rent control they would pay the same price on move-in, then higher and higher as time goes by. All while the landlord is paying the same mortgage, and gaining equity as the value of the property goes up.
Without rent control, old people would be forced to move out of the city, taking thier income (social security, pension and what not) with them. The amount of jobs in the city won't have changed, so there will be less money overall. Vacancy will go up, Rent will stagnate as will property value. Properties will not be maintained and close down. Small businesses won't have as many customers, so they will shut down. Urban decay will set in. City services will get a lot more expensive due to all the dead areas and the people laft will have to pay for it. But it won't be enough. So they will move out too.
Sounds like rent control is working as intended, and actually benefitting both sides.