Their apartment has not been modernised or new fittings for 10 years.
Average rent increase this year for the area is 20%.
There has to be incentives introduced to rapidly build more affordable houses, but any policy that has a negative impact on house prices is a loser to many important voting bases.
Rent control in the short term might have to be done to reign in exploitative landlords.
High rents are the incentive to build more housing. What we need is federal legislation reigning in local district's abilities to block new housing from being built. Owning a home shouldn't give you the right to stop other people from building their's.
> High rents are the incentive to build more housing.
Except that doesn't seem to work, at least in my state. Housing rentals, like medical care, appears not to respond to "market forces" in a way that actually benefits people who aren't relatively affluent.
My friend just got a 29% rent increase this year.
Their apartment has not been modernised or new fittings for 10 years.
Average rent increase this year for the area is 20%.
There has to be incentives introduced to rapidly build more affordable houses, but any policy that has a negative impact on house prices is a loser to many important voting bases.
Rent control in the short term might have to be done to reign in exploitative landlords.