Rent control sucks ass.
I lived in the Bay Area for some years for college and post-college studies... same story--rent control disincentivizes landlords from investing in their properties, supply goes down, newer building rates go up. Lame.
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Originally Posted by punkworld
The building I live in is being demolished in 2 months, and because my city is being run by a bunch of socialist pigfuckers who think controlling the housing market is a good thing, waiting lists for housing are literally several years long.
I honestly don't get how fucking incompetent the morons running this city can be.
The housing market was doing great when there were virtually no rules at all, no shortages, problems, high prices or whatever... and then the socialist morons came along, and decided the "consumer needed to be protected". So, they created so many rules that the market has been virtually killed off, and as a result, there's a huge housing shortage which keeps growing each and every day, and prices have skyrocketed.
 to socialism.
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