Why Rent Control Might Be A Bad Idea

People sometimes forget that there are the corporations who own multiple buildings with multiple units, and there is the little old lady who has a duplex and rents out half to supplement her social security. We need to make housing affordable without bankrupting the smaller players. We can't let the corporations have a monopoly, or what has happened to the price of insulin will also happen to the cost of housing.

Recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways

I rent out a house and my tenant has not seen a rent increase for the past 4 years since he moved in. He’s an excellent tenant and I want to keep him.

Currently, I live in a small one bedroom apartment in a rural area of a state that is ranked the fourth cheapest for living costs. Even then, I still pay almost $900 in rent, no utilities included. I moved here in October, and was just told by the maintenance man that I will be paying $1065 a month or more when I renew my lease. This may sound affordable depending on where you live, but the minimum wage in my state is still $7.25, and as a server, I make $5 an hour. I hold two jobs just to pay for living expenses, and I still spend over 50% of my monthly income on rent. Something has to give, or we’re going to be dealing with an entire generation that’s stuck living with their parents. EDIT: Since this got over 300 responses, I feel the need to clarify some things. Im not sure whether anyone will actually see this but oh well. 1. I am a 20 year old female. A lot of people were speaking as if I were older, and referred to me as male for some reason. 2. I am currently in college. I have 2 years to go. I also have zero student loans/debt because my first 2 years of college were paid for by two scholarships and a pell grant. I recently transferred to a large state school that is renowned for my particular major. 3. I will not disclose the city or area but I live in a bedroom community near one of the two major cities in Oklahoma. According to Google, my rent payment is about average. 4. I do not plan on buying property here because I do not wish to stay in this state. I might even move out of the country once I finish my degree. I would not like to be tied down by property at 20 years old. My credit is very good for my age (700+), so I could probably buy property, but it really wouldn’t make a lot of sense to do that. 5. As some people mentioned in the comments, I am a server, and make $5 an hour PLUS TIPS. I work different days of the week and the tips vary so I could not state an exact amount. Some people also correctly pointed out that servers are allowed to be paid under the federal minimum wage, which is true. Servers can be paid as little as $2.13 an hour, in fact, it’s very common.

I don’t usually comment but US housing is almost impossible to obtain for people with disabilities. Also, there are no affordable housing options and a lot of people who who work every single day still cannot afford housing. This is not a presidential problem. This is American Problem.

A two bed/bath apartment in Arizona went from $1300 in 2017 to $1900 in 2021, a change in management added fancy electronic door locks, Amazon lockers, and picked up trash as extra charges which were not optional Normal jobs are not giving $500/month increases, it's just sad

I'm in Tokyo, living on the East side. By law, my rent never increases. Once you're in your unit, you're rents are grandfathered in. Here, it's tenants who have the power, not the landlords. Also, units are well maintained. My rent today is exactly what it was nearly 20 years ago, and I'm paying 75000 yen (with today's dollar and the yen is rather weak, so I'm paying around $550). I have friends of mine from Australia, and they state that their rent increases are tied to inflation. So, if inflation is say officially 8%, then their landlord can increase rents a maximum of 8%. I'll quickly add that it's not that my salary is very high, but I am able to say a lot of money due to 1. the low rents here, as well as 2. Japan socialized healthcare and 3. not needing to purchase a car since Japan's trains are so very efficient and cheap.Using public trains I can travel from the East side to the West side of Tokyo for under $2.00. The money one is able to save without these three expenses is phenomenal !

Welcome to another episode of "Life Sucks as Millennial/Gen Z"! And let's face it, if you look closely, some of these new/higher-end places are cheaply built/maintained. It takes a lot of work to even find a quality place let alone one that's affordable!

Housing prices can drop 50% and I still couldn't afford one. It's insane. Everyone thinks that the homeless somehow choose it.

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

Prices are insane. It’s unaffordable and unattainable. I’m tired of the greed. To pay for an average rental you have to make $85k to live comfortably. It’s crazy. Something needs to be done or we are going to be in big trouble.

A third of my apartment complex is purposefully empty here in Charlotte, NC. Not because there aren’t people looking, but because they can’t find enough people willing to pay close to 2k for a 1 bedroom apartment. The supply is so far off from the demand, it is either submit to a massive rent cost, or be homeless/have 3+ roommates

It’s crazy & our politicians are doing nothing about it. A two bedroom apartment in Atlanta shouldn’t be 2000 a month smh 🤦🏾

If they are going to cap the rents they should cap the mortgages as well. People should be able to afford to own a home not just rent one.

I live in NYC, I get emails for “affordable housing” all the time. Todays email was for an apartment building in Brooklyn where the minimum income to qualify for the lottery was $91k a year…… let’s just let that sink in

Yes rent should be capped. Job wages are not keeping up with rent prices. 2-3% pay increases just isn't cutting it in today's world it needs to be at least in the 20-30% range pay increase every year, maybe more. The government needs to do something about it now.

my daughter lives in Charlotte NC, and she pays over $1400 for rent which is higher than my mortgage, this is crazy

They keep telling us "why why why why" for everything and no fix . Dont give af why things are high. How can we solve it

If prices keep climbing, people will eventually have enough and take matters into their hands.