Rent control in Chicago

[Ashley Pimsner]

If you are opposed to rent control in Chicago please click on link and have your voice be heard.

http://www.votervoice.net/Shares/BFETcAkuAC6ZPA57o_T7FBA

[John Warren]

@Eric M. people don't just hate it because of the artificial cap on rents (although that does make investing less attractive). They hate it because it actually decreases the supply of affordable housing. You can look it up and read all the data on this, but rent control increases the amount of places that are turned into condos and town homes to avoid the rent control. It makes no sense to be a land lord if your taxes, insurance, maintenance and turn over costs rise, but your rents are fixed. The only reason I have bought any of my properties it to improve them, and then reap the benefit by raising the rents. 

I don't think most of us on here think the sky is falling, but this is also not the solution to the debt and pension issues in Illinois. Rent control and sky high real estate taxes will just be a one-two punch to property values in Chicago and the surrounding areas.