Quote:
Originally Posted by mt_climber13
San Francisco has rent control and is the most expensive city in the country. That’s why I voted against it.
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I'm not at all sure it wouldn't be the most expensive without rent control. For one thing, we have vacancy decontrol meaning when a tenant leaves, the landlord can raise rents to market levels. Second, rent control only applies to certain buildings built before the 1970s, not to new construction. So there is not much disincentive (except the possibility of rent control being broadened in the future) to build new supply.
I agree with you government plays a large part in raising housing costs in the city but by other means that do affect new construction such as the horrendous process by which new projects are approved and the implacable pressure to downsize everything meaning what does get built is smaller and contains fewer units than market forces might dictate.
Regardless of what you can blame on it, I voted against the measure because I agree it won't help even though it may not do the harm some blame it for.