Quote:
Originally Posted by AnEmperorPenguin
Rent control destroys supply it doesn't create it, you can't get free money out of for profit landlords/developers by limiting how much they can charge. You avoid displacing people today and the trade off is that you end up with a worse housing crisis a few years later.
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I don't deny rent control is a constraint on the market. My point in saying it would help is pointing out that fear of displacement and gentrification have already ended up creating dozens of even more damaging constraints. Practically the entire city has been down zoned and tons of red tape has been created in the past 30 years as city politicians attempt to appease current residents.
What this city currently does to avoid displacement is a huge impediment to development and its not even effective at avoiding displacement. Rent control and zoning reform passed together should both increase supply and insure existing residents aren't priced out.