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Steve Buck's avatar

In 1991 when I was in team debate in high school, the topic of the year was how to solve the homelessness problem. My partner (now an antitrust attorney) and I proposed a simple solution: End rent control. We did well with the plan making it to the CA state tournament and barely missing nationals. I remember using the Friedman quotes in our case and many others from writers in Reason magazine. I never would have thought as a junior in high school that this topic would have such relevance over 30 years later.

Having lived in the Bay Area and SoCal for a long time, I can tell you I never ceased to be amazed by the straight-faced insanity of those reiterating the call for more controls in the housing market. It hasn't worked. It will never work. Yet, all of these proponents seem to think that prior experiences merely reflect that controls weren't "implemented correctly". Surely, this time (with them in charge), it will be a different outcome. Alas, no.

Basically for rent control to be successful, not only do the laws of economics need to fail but the same for the common adage of "learn from history or be doomed to repeat it".

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the fxdp's avatar

Who would rent a room out in California, especially in Los Angeles or San Francisco, where the renter suddenly takes on more rights than those of the homeowner, who may not be able to terminate the agreement without an eviction proceeding -- expensive, and stacked in the tenant's favor?

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