this post was submitted on 13 Jun 2023
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Would like to buy, but many properties are over priced, interest rates aren't favorable, and don't have the money for the required down payment, so stuck renting, and landlords/leasing agents are taking advantage. We need rent control.
We need more housing.
Unfortunately, rent control does have issues in the long run. Less profit for landlords does mean less money invested in new construction by people looking to make a profit. Less new construction eventually leads to shortages. It's great for those who already have housing, but those searching for a place to live have it more difficult under strict rent control. Though with how long construction projects take from planning to opening, this effect takes decades for any change to be noticeable.
Hypothetically, could a city or other regional government, or even larger scale one, create a state run development company, under mandate to build up the housing supply in a given area even if investors won't do it?