A guy just transcribed 30 years of for-rent ads. Here’s what it taught us about housing prices
Michael Andersen
3.4K222

Rent control benefits developers more than anyone else. The burden of rent control for an owner isn’t simply the regulation of rent, but all the other controls that go along with it. It makes evicting a rent controlled renter even for non-payment of rent much more difficult. Often registration and fees (ie taxes) are required plus obnoxious paperwork to collect the renter’s portion of the fees. An infrastructure of highly paid city bureaucrats are hired to administer and oversee rent control. In Los Angeles according to information on Transparent California the managers of the Los Angeles Housing and Community Development Department are paid between 250,000 and 300,000 per year. These strictures encourage owners to sell to developers who will then build non-rent controlled and often luxury housing.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.