Rent is TOO DAMN HIGH Party

From my post at CEI’s blog OpenMarket.org:

Jimmy McMillan doesn’t get into details about what he intends to do about such high rent. The answer is clear: Let the markets go!

Sure it’s nice to live in a safe, high-rent neighborhood. Hopefully Jimmy McMillan understands that the problem with rental price caps (like rent control) and regulations (like banning food trucks) is that these policies create spikes and troughs across abutting rent districts. This artificially ghettoizes neighborhoods rather than permitting rents to rise and fall naturally to reflect the more nuanced actual rent prices people are willing to pay.

If he intends to fix the “too damn high” problem by mandating a maximum rental price, neighborhoods will suffer[…]

 

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1 Comment

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One response to “Rent is TOO DAMN HIGH Party

  1. Here’s the problem with the market – it isn’t free, and it isn’t competitive. Rent control, rent subsidies and public housing only exacerbate the problem, but a policy of non-intervention will also fail to deliver affordable housing. Ironically, the market will only function freely with higher taxes on land ownership and lower taxes on capital (buildings). Here, I refer to Henry George and Mason Gaffney. http://masongaffney.org/blog/

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