Essay on Rent Control: Pros and Cons

The problems that arise from housing are numerous. Housing takes up more than half of all real property tax. Not only that, it’s also the largest issue in a family’s budget. The federal government spent $38 billion in preferential subsidies and $2 trillion on housing in total in the year 2006. Rigid zoning codes prohibit certain types of housing from being built. This prevents some citizens from being provided with homes that fit their budget and ads to the chronic problem of homelessness our communities face. Too many houses can crowd neighborhoods and make transit difficult. They can also obstruct view and, when foreclosed upon, lead to plummeting property values.

Some economists would argue the above mentioned examples of why rent control is harmful to

Americans across the United States search for the perfect home, location and square footage of course a great price to pay for their castle. Finding an affordable place to live is ideal, and necessary for survival in this day of age. As the years go by the cost of living increases but Americans do not receive a cost of living raise. The demand for affordable housing is on a all time high, but so is the cost of housing in the metropolitan areas across the United States. America must take care of its citizens and should provide affordable housing programs, to assist Americans to either purchase or rent a home.

Many advocates and policymakers of housing for the poor believe that to achieve optimal human development of low-income households the location of the housing must be considered as well as the quality of the housing unit (Newman, 2008).

Rent control refers to laws that limit the amounts of rent and the amounts that rent can be increased in any year. There is no statewide rent control in the US, and all the rent control laws and regulation are passed by cities. Most of the cities with rent control are located in New York, California, and New Jersey. Washington, D.C. also has rent control.

It is getting worst and worst because the rent is constantly increasing over the years and that makes the low income people struggle and then later on can lead homelessness, and struggle to find a new home.The population is also increasing with more people from other states so they don't really mind paying high rents simply because they haven't been here long enough

This is a result of a demand shift to the left related to a lack of available tenants for the apartments. The property management company has to decrease rental rates allowing the quantity supplied to decrease as well (University of Phoenix, 2012), creating a downward swing in the supply curve. The price of rentals decreased to create less quantity that is available for rent creating equilibrium and a decrease in surplus. This is a difficult decision to lower price significantly but will continue to create revenue for the property management company while decreasing supply of vacancy.

When the recession happened, and the housing market crashed in Los Angeles a few years back many people lost their homes. The foreclosure crisis displaced many homeowners, drove up demand, and rental prices increased. Now, it is almost two years later, and the dramatic rent increases continue to soar. There would be no issue with cost of living increase except; the increases in income have yet to make the same shifts. “In many cities, rent is rising out reach of

Those who cannot afford the high prices of housing are often forced out into the streets where they face a very uncertain future due to the number of abuses they encounter daily from all walks of life, with the most damning being the vagrancy laws that come into vogue in areas that are getting gentrified, which many cities have passed to “protect” their newfound assets and tax base from the “lowering” of property values. Furthermore, when cities such as Los Angeles demand that property developers set aside affordable housing for lower income people, they get sued in court, such as in 2009, when real estate developer Geoffrey Palmer successfully sued in order to overturned an ordnance which required that. This was also the same man who also proposed building a footbridge connecting two of his buildings to minimize contact with people he deemed undesirable (Davis).

What is known about the dearth of inexpensive living spaces in high-cost, heavy populated areas is its scarcity is a function of supply. Demand remains a non-issue for policy makers as demand has

The author focuses on rising housing costs. Here is where myself and the author begin to part. Unlike the author I don’t believe the answer is this simple. Although the rates as he describes are rising faster than any other market or minimum wage. One most always look introspectively at a cause first before looking externally. The problem with blanket statement like: the singular reason is rising costs, is that it holds blameless those who choose not to better themselves. One of the major problems I see in the world is a sense of undeserved entitlement. If you can’t pay rent in downtown of city my solution is to look for housing elsewhere. I have moved across the country from my family for years and now am the closest I have been in over 4 years still 5 hours away. Growing up my housing situation has been just as unstable as many described in this piece. It was a sense of pride and entitlement that put me in that situation not rising costs. After leaving home and moving to California I found myself struggling one day to make rent, I was paying $1,800 a month just for rent let alone a car payment and utilities. Although this was unexpected and due to something I could not control I had to remedy the situation I cut back on unnecessary expenses, moved when my lease finished and now I refuse to ever be in that situation again. I am now here at UW-Madison pursuing an education that will allow me to be financially stable for the rest of my life. If I can make it with all of the setbacks I have had in my life, why shouldn’t we encourage others to do the same? Minimum wage although it should cover expenses for housing we all know doesn’t and we adjust our sights to accommodate for that. We get an education and better ourselves and those around us. This allows us the lives we want to live. In closing I hold the renters responsible

There are lots of benefits brought by the rent control after it was adopted. First of all, the rent control lowers the rent, so that the rent apartments have become more affordable for the public, especially for poor and working people. One statistic that may help with this statement would be the journal published by Gerard Mildner and Peter D. Salins in 1991, they stated that the normal apartment renting price was about $180 in 1975 because of the rent control. 12 years later, which is 1987, the rent price increased to around $400 due to the inflation. We can see from the data that the rent went up for about 130% in 12 years. However, the consumer price in general only rose 105%. (City Journal) Therefore, instead of only maintaining the current rent price, the rent control also helps to prevent

and reviews. For example a poorly reviewed and ‘riskier’ renter would be charged more than a

Some individuals may believe that buying a home is part of the American dream and that renting an apartment does not compare, yet satisfied renters would disagree. Even though owning a home provides a sense of security while allowing modifications without permission, renting is preferred more often over buying because the expense of updating, monthly payments combined with utilities, and paying insurance on a home comes with a high price tag. A homeowner does have several luxuries such as forming lasting friendships with their neighbors, making landscaping changes to their yard, painting and designing their home. While that remains true, renting an apartment comes with several different options and

Rent and move-in Assistance; the primary barrier to permanent housing for many individuals is financial assistance, security deposit, monthly rents, and household needs