RENT CONTROL!

by Jack

CA democrats fervently pushed for rent control last year, but they failed.  Now it looks like Oregon will actually do it.   It’s passed the Oregon senate and the governor said she will sign it.

In large measure this bill came about because of the invasion of homeless, say Oregon’s lawmakers.  But, is punishing owners of investment grade property in favor of housing hardcore welfare cases that have migrated to west coast the right way to go?  Liberal Washington, Oregon and California have become magnets for nations homeless because we offer them more than the previous states.  These hardcore homeless haven’t migrated here looking for jobs and a way out of poverty- they came here because of the benefits and free stuff.  Giving them more free stuff and more benefits is an insane way to handle the problem.

My prediction is rent control will have a dramatic negative impact on investment in rental property.  That can only lead to shrinking the state’s property tax revenue.  This will in turn  put  pressure on the legislators to raise taxes to offset that huge loss.  And in the end, rent control will do absolutely nothing to solve the homeless problem.

History tells us, every time that government seeks to control anything, especially those governed by the laws of supply and demand, it pushes closer to socialism and ruin.  This  whole thing in Oregon is just another fools errand.

This entry was posted in Business and Industry, Homeless and Indigent, Tax Policy, Taxes and tagged . Bookmark the permalink.

12 Responses to RENT CONTROL!

  1. Libby says:

    “But, is punishing owners of investment grade property in favor of housing hardcore welfare cases that have migrated to west coast the right way to go?”

    Yep. If landlords insist on pricing housing out of the reach of poor people, they should be punished. I love how you ALWAYS only look at the portions of any subject that favor your views.

    Because it is also the fault of that sizeable wave of California immigrants, who have sold their wildly over-priced California real estate, and are willing to pay whatever is asked for Oregon property … prompting Oregon property owner to ask for lots.

    And I know for a fact that there is nary a studio apartment to be had in the whole of Eugene, Oregon. Apparently, in Oregon, you are supposed to live in a housing unit with other people, family of some sort. This is very idyllic, but not quite in tune with the nation’s current demographics.

    Next to Eugene is a town called Springfield with lots of land that could be developed into Tiny House Villages by some forward-thinking investor. All it needs is a legislative nudge.

    • Post Scripts says:

      Libby: ” I love how you ALWAYS only look at the portions of any subject that favor your views.” Well, at least there is something you love about me! lol But, consider this my dear Libby, why would I have created this free speech podium if I did not want to hear your views along with all other views? Sometimes we even agree… shocking, huh?

    • Post Scripts says:

      Libs, I can appreciate the need for affordable housing. But, the libertarian side of me says, that is a supply and demand issue and its best addressed by the private sector, not government. If there is money to be made by building tiny houses then somebody will build them.

      Next, I don’t think you were paying attention when I said this housing shortage is in large part due to a [huge] influx of homeless from out of state. They come here looking for more stuff than they were being given in their former states. The more we give, the more homeless we will attract. So, you tell me how that solves anything? Obviously it doesn’t or CA would not now have fully 1/3rd of the American homeless population. The out-of-state migrants are causing so many of our problems and you liberals are in denial. Until we find a way to fix that we’re going nowhere, but down.

  2. Libby says:

    “Next, I don’t think you were paying attention when I said this housing shortage is in large part due to a [huge] influx of homeless from out of state.”

    This don’t make no sense. The homeless are taking up housing?

    “The more we give, the more homeless we will attract.”

    Again … this is your take, and the ONLY motive you are willing to consider. Dude, it’s warm here, most of the time … a serious consideration if you’re sleeping in the outdoors.

    There is also a lot of work here, on those occasions when you might want it. A person who cleans themselves up a bit can do a stint at a Burger King without too much effort … another factor I also know puts California over Oregon.

    It’s not a simple problem, and so your simple (and barbarous) approach will not work either.

    • Post Scripts says:

      Libby, it does makes sense, if you recall you were talking about tiny houses and as I understand it, those are for homeless housing, right? We seem to have a housing shortage (low income or no income) according to the liberals in the news.

      I readily agree our mild weather does have something to do with attracting people from the cold states, but what about the warm states in the South like FL.? We got non-productive people coming here from all over, including south of the border, because we’re a soft touch and they want what we have or at least something for nothing. Of course we have the other people with mental problems and serious disabilities, but that’s not my focus for this discussion. I’m talking about the people who are lining your streets in Oakland with their rundown, rusting, trashy RV’s and campers and calling it home! They don’t work, they don’t want to work, they prefer to smoke dope, drink beer and collect a welfare check. We used to call them bums, but now they are called needy homeless people that we must feed and provide for.

      Libby there a lot of people wearing the homeless label that you make excuses for that just flat don’t deserve it. But, that’s okay, if you want to cut your salary by 20% and give it to them, that’s your choice, but most liberals want to cut into my salary (via taxes) and give it to the bums. I’d rather not.

  3. Peggy says:

    The problem will resolve itself when property owners start selling their rentals and moving out of state or investing in other investments. When the supply of rentals goes up the price of rent will go down. Supply side economics always works.

    • J. Soden says:

      Correct. That’s one of the reasons folks are leaving Taxifornia, IL and NY and the Lunatic Left just can’t understand that!

      • Peggy says:

        Last year DeBlasio was boasting the rich love New York too much to leave when he said he’d raise taxes on the rich to pay for their subway system. Guess he forgot the rich, like him, don’t ride the subway.

        This year Cuomo is concerned, that state revenues dropped $3 billion, and that the rich will “vote with their feet” and continue to move to lower tax states.

        Democrats are just slow learners. As my late father-in-law used to say, “Things will not change until it becomes important to them.”

        “In a blistering diatribe bemoaning the loss of almost $3 billion in anticipated tax revenue to New York state’s coffers, Gov. Andrew Cuomo finally seems to have grasped an important truth: overtaxing high earners backfires and actually hurts the working class and middle class.

        This is something conservative pundits have been shouting out for years. And, of course, the typical liberal response was: Stick it to the rich! If only they paid their fair share of taxes (meaning a lot more than they pay now), we’d have the revenue necessary to cure all our social ills.”
        https://www.foxnews.com/opinion/democrats-plans-to-raise-taxes-on-the-rich-would-hurt-us-all

        The RNC should send both of them thank you notes.

    • Libby says:

      Dream on.

      https://www.realtor.com/realestateandhomes-detail/422-W-12th-Ave_Chico_CA_95926_M20747-31721?view=qv

      Here we have a house that sold in 2016 for $175 being listed in 2019 for half again as much. If that ain’t gouging, I’d like to know what is … and your little town is rife with it.

      “The Market” is for greedy gougers and the people who let them, not for poor people.

  4. Post Scripts says:

    The laws of supply and demand is so undeniable and basic. It is stunning that liberals can’t grasp it.

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