Opinion: Two lousy proposed rent-control laws should be rejected in Sacramento
Too little supply and too much demand is what created the current situation, which is very much not our grandmother’s monthly check for a big, clean two-bedroom apartment in a nice building in a great neighborhood.
When something costs too much, there is a certain political mindset that believes that the answer to bringing costs down lies in making it against the law to charge more than some arbitrary amount for that good or service. That’s why economists from right to left in their personal politics almost universally agree: price controls, very much including rent control, simply do not work. At all. In anything but the extremely short run, they are counter-productive for both buyers and sellers, creating artificial shortages that drive a black market and usually end up in making things cost more in the end and be of inferior quality.
“SB 466 by Sen. Aisha Wahab, D-Hayward would allow cities to impose rent control restrictions and set price controls on any apartment unit that is 15 years old or more.
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