They want us to buy up property at inflated values (both price and interest rate) then default in a few years so they can buy them up in foreclosure auctions at a steep discount.
Economists want a perfect supply-demand capitalist dreamland. Demand drastically outstripping supply indicates something is wrong with The System^TM and that’s not acceptable, so they want to fix The System^TM .
It’s clear the demand is there, so it’s not a consumer problem. The supply is super-limited and being reduced every day. That’s a supply problem. The only options are incentives (don’t really work in this situation) or regulation (which economists hate but no other choice).
I assume most economists just don’t want to see what happens when that system reaches an absolute breaking point, so sign on for regulations it is.
I think you’re circlejerking. Rent control exists in a lot of places and you also have leverage through taxes and tax incentives to help shape the market. Not to mention rentals are covered by a different set of rules than your own property that you use personally.
Unless they have a special housing unit he’ll end up in solitary confinement. (Did a few years in a state prison for growing mushrooms).
If he went to general population he’d be the target of so much harassment. So, they will separate him, even if it means he serves his whole sentence in the hole.
Best case they have a seg unit. Which means he’ll be grouped with sex offenders.
"Health care workers racked up 73% of all nonfatal workplace violence injuries in 2018, the most recent year for which figures are available, according to the U.S. Bureau of Labor Statistics"
And this is why I'm the first one telling my colleagues to back away if a patient starts threatening. I always say, "I ain't taking a punch for no one."
Drug and alcohol withdrawal is a beast. You wish you could show all your younger cousins what it does to people so they never get themselves into that situation. Dementia patients are much more difficult because your first instinct is to jump in there to keep them safe from themselves. But if I'm injured at work, then I can't take care of anyone else either, and that's not fair to my family or my other patients.
I'm really lucky that I work at a small hospital where our security takes our concerns seriously. We've had edgy situations where they decide to just increase the frequency of their rounds on our unit and make a show of being present. It helps a lot.
There are very few things almost every academic economist agrees on. One of the things that almost everyone agrees on is that rent control does not work. Im shocked they got 30 economists to sign on.
The following is apropos as it even addresses the specific policies of SF and NYC mentioned here. If you need to see a progressive voice go look at Emmanuel Saez as his work is what Sanders and Warren based their tax plans on.
Rent control is a horrific idea. Over the long term is disincentivizes the construction of housing. If you want to bring the costs of housing down then you need to build more housing ideally multi family units not kore luxury housing which is what rent control creates incentives to build.
OK but we have more empty houses than homeless people. We don’t need more houses. We need to stop wasting resources for the sake of capitalism and stop letting people die for it as well. There is going to be a point where people start setting fire to vacant houses in protest. It is amazing what millions of desperate people will do when their screams of frustration go unheard long enough.
This is the chaos that our leaders secretly want. Otherwise they would have to be abysmally stupid. There is no excuse for ignorance in the information age.
No we have more vacant homes which is not the same thing as available or usable. A house that no one lives in and is being sold is counted as vacant. An unrented apartment listed for rent is vacant
Your premise is based on a flawed concept if what vacant housing means.
Make the military fix them. They are always bragging about vocational training. Right now the only training they give is how to not seeing a therapist for PTSD. This would at least teach them how to do some basic carpentry work. And would benefit us a lot more compared to making planes that can’t fly in the rain.
This is true, but very few of those houses exist where homelessness is a major problem. Location plays a huge role in someone’s life and we can’t just ship everyone that’s homeless or struggling to a dying small town in the US.
The lowest non-condemned house in my city is currently listed at over half a million dollars. There is a three story office building in my block that has been empty since March 2020.
Meanwhile Ontario removed rent control on all buildings newer than 2018 and now people find their rents going up by 40% over a year with no recourse because the government is favouring the developers over all others, and no government level wants to mandate what developers should build.
Meanwhile areas in North America that didn’t have rent control also show skyrocketing rents. Rent control is starting to look pretty good. I would rather get decades of lower rent than not.
There are very few things almost every academic economist agrees on. One of the things that almost everyone agrees on is that rent control does not work.
Economists work for banks not for us. Their models have no connection to the real world. They support bailouts but not student loan debt reduction. Says all you really need to know about them.
Or did you just see a supply and demand curve and think that’s all there is to it?
If you studied economics beyond the 101 level, you’d know the supply and demand curve is a theoretical concept that doesn’t actually exist in the real world because the requirements for it are impossible. Supply and demand most definitely exist, but it’s more of a fuzzy force kind of thing not clean lines on a graph. Realistically, it’s more like fuzzy splotches on the graph instead of clean lines.
And there are multiple levels to it as well. Cities have to compete with other cities to attract businesses and businesses would prefer to be in a city where they don’t have to pay someone $100K per year to sweep the floors. Which might happen if that’s the pay level required to live in a city. You could get into a yo-yo situation where a city becomes unaffordable, people and businesses leave, causing the rent prices to drop, attracting people an businesses back, causing it to by unaffordable again, etc, etc. This instability comes at an economic cost that’s greater than the inefficiencies caused by rent control.
You see an economy isn’t just one simple supply and demand curve. You might want to consider that economists might be aware of some factors you aren’t aware of.
No, I did not just see asupply curve nor did the dozens of economists polled. The fact is it has failed to make housing more available or decreased the cost of housing when implemented.
Arguing for rent control is the economic equivalent if arguing against climate change. Pretty much everyone is in agreement on the issue.
The point is to provide relief for those who can’t afford rent.
Please show me actual economic modelling using real world data of the negative impacts of rent control. You know, something that isn’t just theoretical extrapolations based on the non-existent supply and demand curve done by someone who spent too much time reading propaganda on mises.org
If you have no idea who that is it is a collection some of the most highly regarded economists in the world. They universally turn their back in the policy. You are arguing with the consensus of the largest group of academic economists we currently have
It is odd that you are accusing me of being an AnCap for representing perhaps the least controversial opinion in academic economics. Perhaps you should look into taking even just 101 which MIT has on line for free to rectify your inexperience and lack of education.
What is that link? So over a decade ago, 40 people that I don’t know indicated their opinion about rent control on a website. That’s your proof? Of what exactly? What was the methodology in which they were selected? Come on, some basic science please!
At any rate that’s not an economic model involving real world data. It’s just a poll on website that 40 people responded to.
And I did take Econ 101. And also Econ 201 where they explain the requirements for supply and demand: -Free movement of labour -Infinite number of competing companies -Perfect knowledge -No barriers to entry
In other words, things that are impossible in the real world.
Looking at a supply and demand curve and thinking you know about economics is like reading Act 1 of Romeo and Juliet and thinking you’re a PhD in English Literature. Supply and demand is theoretically how things are supposed to work which you learn about in Econ 101. Beyond Econ 101, most of economics is about why it doesn’t work like that in the real world what regulations are needed to approximate something vaguely resembling supply and demand. And sometimes a regulation that moves away from supply and demand in one market can get us closer to a reasonable supply and demand approximation in other markets. As I mentioned before, rent control helps the labour market, which is kinda important.
You could click on each name to realize they are all economists or youcould read the sentence where I mention they are all economists.
The poll results you are arguing against is a consensus of experts. If you think you know better I think you need to takea second to ask why a person with no education in economics would know better than a group of people with doctorates.
You took 101 and 201 and you have no idea who the University of Chicago’s IGM forum is? You either went to a clown collage, paid no attention in macro, or are completely full of shit. I strongly suspect you are lying about your credentials here as again the view Im giving would have been taught to you.
Ok, so you got nothing but appeal to authority, and the “authority” is a decade old poll that 40 people responded to on a janky website?
Apparently this IGM forum is something paid for by the Chicago Stock Exchange. I don’t see any indication of the methodology they used to select these particular people. Given the source of their funding, it makes me a little suspicious. $1.5 million to 40 economists to answer an email once a week? Was the Chicago Stock Exchange paying that money for honest answers or were they paying for the answers they wanted to hear?
And they don’t seem to do any macroeconomic analysis. Methinks it’s just some bullshit meant to influence public opinion. I guess it worked on you.
an economy isn’t just one simple supply and demand curve.
Aggregate supply and aggregate demand.
Boom. Roasted.
This instability comes at an economic cost that’s greater than the inefficiencies caused by rent control.
It’s extremely difficult to get someone who only understands Econ 101 to grasp the idea of competing economic inefficiencies. Conservative think tanks have been on a rather successful crusade to ensure that de-regulation is only good. So, it’s difficult to convince someone that higher taxes on “job creators” leads to a better, less expensive life for everybody else.
Yeah and aggregate demand is basically impossible to model because people be crazy.
And sure, rent control could cause issues in the long run, but in the long run we’re all dead anyway. Other, bigger, problems will likely happen sooner than something like rent control having a significant economic impact.
Using SF and NYC as the main examples kinda distorts things as these are both some of the most expensive, developed, and dense parts of the country where development costs are staggeringly high. Something not working there doesn’t mean it doesn’t work anywhere else. The rate of increase in property/rental costs is unsustainable.
Housing should NEVER have been part of determining ones worth or wealth etc. People need places to live…fuck this shit. Idgaf about people that boohoo about selling their home later in life when soooooo many of us can barely afford a rental in shitty areas these days. I have zero sympathy for any owners concerns as I can’t even own and I make more money than I ever have in my life. Can’t win vs the rich bastards that swoop in and pay 100k above asking price and just destroy any chances many of us have at just having a home and a life. Fuck your “starter home” boomer mentality. I want a home to die in someday and it can be the first home I buy if I ever get to
Yet another negative side effect of supply side economics. More money in the investor class than there are good investments. So they dump money in real estate which drives up the price.
We have to wait for the people that love Reagan out of nostalgia to die off. Then we can tax the bloated investor class and have a healthier economy.
It’s more a symptom of artificially low interest rates. A lot of the money currently buying up places to rent them would happily buy mortgage backed securities instead, but that market bottomed out when rates were 2-3%, so they bought property directly instead.
It’s going to take time, but eventually some companies will prefer the low risk 7-10% MBS vs managing property to get roughly the same return if you’re lucky.
I'm honestly surprised that we don't see mass shootings at health insurance offices. They fight tooth and nail to keep their customers suffering and in poverty.
This is always the thing that really gets me. How do these guys identify in any way with a rich, yuppie, NYC real estate sleaze ball? He feels like exactly the kind of guy these people hate, but here we are. A guy who never had to work a day in his life, has had multiple infidelities, I don’t even think the dude went to church?
Just had to play the right dog whistle and he tapped into something.
Are they not watching what’s happening in Ukraine? I guess if you got a hard-on for dying, you would be excited to go, I would have a bit of a problem with being on a landing craft and having a HIMARS spraying you with a 1000 tungsten balls.
And that’s just the mothballed stuff designed to kill Russians! The Chinese killing stuff we haven’t even touched yet!
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