California's Shocking New Plan to Destroy Itself

There's a housing crisis in the US. And while many states push for more and more rent control, Argentina's Javier Milei shows us a different way.

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[largezo]

A government solving its own problems is like an alcoholic drinking himself sober

[wastelandman]

Instead of rent control it should be property tax control

[jonathanj]

The Tenant Protection Act is trash. Made it incredibly difficult to evict a roommate who was trashing my condo. Cost me $18, 000 to get her out.

[rudiruttger]

what's taking place in Argentina is like government rediscovering the sky is blue.

[leonardonascimentopires]

You're telling me government meddling in the economy is a BAD idea?

Who would have ever thought!

[casnimot]

I'm one of those people leaving CA. You look around here and notice that not only are the rents high, but you literally cannot buy a home without being a millionaire.

That is all a product of Progressive Democrats, who have owned California since the turn of the century.

[jasondaniels]

Min. Wage went up, people lose their jobs.... California

Rent gets capped... people stop renting out their houses...California

[gregoryfugate]

Government interference is never the solution.

[alexsystems]

Rental homes are so expensive because section 8 keeps rental prices so high… think about it, if Joe-renter has to compete with the government the government basically keeps these rental units filled, so if rent goes up, the government takes into consideration the market when they set their subsidy. So the subsidy goes up, the market goes up again, the subsidy goes up etc etc and that prices regular income earning renters out of the market. Rental prices will go down when people can’t afford it anymore, however since the government can just print money, the government can always afford rental prices, so even though the average consumer can’t, the prices will still go up.

[HavingCoffieWithMrSatan]

What about the 24 million illegals who are also Low Income doesn’t that cause issues for the Low Income Americans who need homes too?

[nutrithelemon]

What we had in Argentina was a disaster, as a land lord you would lose money renting your property. If the renter stopped paying you couldnt evict them if they claimed to have children for example, if they stayed long enough they would have tge ownership transferred to them.

[dragonofparadise]

The real enemy of renters are the NYMBYS. They pass laws that ban the construction of new and affordable housing thus artificially reducing the supply to intentionally make housing unaffordable to enrichment themselves at the cost of the poor. NYMBYS need to be shut down and punished. All zoning laws need to be either greatly reduced or eliminated. A prime example of a successful market that this has been tried with great success is Japan. Housing is very cheap and treated shelter not investment to speculate on so prices don't become overvalued. This is the ideal outcome for the public but a nightmare for the banks and the rich.

[siral]

They caused high rent by over-regulation, then "fixed" it by adding more in the form of rent control.

[terrysmith]

I’ll let you in on a little secret. The best way to make housing more affordable is to increase supply. It’s economics 101 - supply and demand.

[sinisterthoughts]

It's amazing how this lesson is taught over and over and over and over, all around the world and yet people still keep thinking it will work. Kind of like communism in that respect.

[TontoGoldstein]

I worked for a development company in Southern California where shortage of housing is an astronomical problem. We were set to build a suburban community in Orange County to help lower the price of home ownership, but regulations and environmental groups kept suing and stalling the project that after 2 years, the CEO finally gave up and moved his company and operations to Las Vegas. Politicians love talking about lowering the price of homes, but they make impossible. I truly think they’re doing it on purpose to keep people poor, and only the big huge developers who can pay them off will be able to get things done. But of course these huge corporate developers will tack on Mello-Roos and HOAs so only the rich can afford to buy those homes and the middle class are once again, screwed.

[KaleSerpent]

But but but that wasn't REAL rent control!

[freehelicopterrides]

Entire swathes of NYC were destroyed thanks to rent control. First landlords ceased maintenance in the 50s, the in the 70's when a couple of fire stations were closed and no-questions-asked fire insurance was introduced, The Bronx was ablaze for a decade. There was an average of 40 fires a day. Entire blocks in South Bronx, Harlem, Lower East Side, Bushwick, Brownsville and East New York were abandoned. South Bronx lost around 80% of housing to fires and abandonment.

Rent control is the best way to destroy a city short of carpet bombing.

[BeachinBlaze]

They will call it "college barbie" she never moves out and complains no good kens

[SG-jsqn]

Unlike socialism, capitalism works everywhere it's tried.