Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
Came across this Bookings piece on Rent Control and thought that it did a good job laying out both some unsung positives and negatives in a fairly non partisan way by looking at actual impacts of two real examples, in San Fransisco and Cambridge MA, over long time frames.
Figured I share and see what others on this great site have to say or have experienced with rent control; especial since this issue is getting more and more traction in lots of cities and could have impacts on both apartment investors down to small multi family, triplex, and duplex owners.
Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
7y
@Bjorn Ahlblad That one of the top three non partisan think tanks in the nation is suggesting that there are better ways to accomplish the goals of rent control rather than actual rent control.
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
7y
@Bill F. Hi Bill to me this increases beurocracy and piles on the Debt. Rent increase is not evil-just allow the market to find it's own level. Are cars next? I'm tired of this Honda let's get Mercedes insurance from the government. Our tax system is already one the most complicated in the world; this would increase that complexity and we have not seen how the program might be implemented. To me a subsidy like this is another step towards increased socialism, and dooms landlording as a profession, it is additive and reduces the need for people to get a better job which is what everyone should be working on anyway, and allows government to think it is doing a good job fixing stuff (which it broke in the first place). Thanks for allowing me the opportunity to express an old fart's rant! All the best! ;<))
Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
7y
@Bjorn Ahlblad Please rant away; that's what about 60% of BP is anyway, right? The other 40% being divided between people asking how to start wholesaling, how to buy a 50 unit apartment with $5k to their name, and is how many LLCs are needed to invest in RE.
Is a direct transfer optimal? Probably not. But it is better than rent control, which only works in the short run, reduces over all rental supply, drags down property values of non rental units near by, an overall decrease in the quality of rental supply.
Sometimes the journey of a thousand miles begins with one step...