The Multifamily Broker Podcast
Business:Investing
Ep. 123 Rent Control will RUIN your City!! Here's Why...
In this video, I speak out against proposed rent control or tenant protection laws in San Diego. Based from a Harvard study and my own research, I argue that such laws would have negative effects on both landlords and tenants, ultimately harming the housing market and increasing homelessness.
I explain how rent control would decrease the supply of available rental units and drive up prices, making it harder for tenants to find affordable housing. Instead, I advocate for building more affordable housing units and educating people on the principles of supply and demand economics.
I also discuss the negative impact of rent control on small landlords, who may lose their motivation to renovate and improve their units, and may even be forced to sell their properties. This, in turn, reduces their ability to provide affordable housing options to tenants.
Overall, I believe that rent control laws would have a detrimental effect on the housing market, impeding development and exacerbating the homelessness crisis. Instead, we need to focus on solutions that promote growth, affordability, and access to housing for all.
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Video Translation:
"So earlier today, I spoke at a very important San Diego City Council meeting on whether or not they're going to pass a very strict rent control law or tenant protection law, protecting the tenants here in San Diego. And I made some key points that I really want to share with you to help educate you on what economics, supply and demand and what rent control really does to a market. What rent control does or tenant protection laws does, it slowly kills cities. And the reason why is for two main reasons, number one, it destroys the number of supply. So the number of units that are actually available to the marketplace for a new tenant, looking to move or looking to move to a city, what that does is when the supply is destroyed. It's simple economics. When there's less supply and a lot of demand still prices go up and up and up. Lawmakers are actually shooting themselves in the foot and shooting tenants in the foot because they're making these laws in order to help tenants. And the sad part is it's only hurting the tenants. It's going to hurt tenants for generations and generations and, and here's why rent control is a lose lose for everyone. A study was done by researchers at Harvard and they did a study on New York City and their study showed that rent control negatively affects the landlord and every single tenant that is looking to rent and it negatively impacts them but only positively impacts people that are squatting in units and not..."
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