How Rent Control Hurts Renters

[@loviatar9]

People hate when you try to explain the complexities of an issue. Too many people just want a view they can easily chant.

[@machinedgod]

Complex thoughts don't fit into 140 characters :shrug:

[@stephaniegormley9982]

It's like Nixon one said "Conservative ideas are SOUND. Liberal ideas merely sound good."

[@szymonmirek6389]

Yeah. Like blindly believing is supply side economics.

[@flybackrs]

The view of "I want this, so it should just be given to me." They hide behind all sorts of dialogue that makes their though process sound more substantiative, but at the end of the day, that's what it boils down to.

[@flybackrs]

@@stephaniegormley9982 Nixon and modern conservatives are an awful example of sound ideas. They just have different bad ideas than progressives do.

[@Stevarooni]

"We don't need more studies!" Good, just use centuries of history and what happens _every time_ without spending more on studies.

[@nocapitals9833]

Modern science is the new religion, believers will twist data as long as it fits their needs. Their motto should be trust the science but not that science

[@stansman5461]

As long as the existing mindset agrees with them, they'll refuse to acknowledge any more studies.

[@jackalenterprisesofohio]

I say WE DON'T NEED MORE STUDIES ABOUT TOBACCO, ASBESTOS, LEAD BASED PAINT, MEDICINAL LEACHES, SHOCK THERAPY, LOBOTOMIES, NUCLEAR BASED COSMETICS, I SAY THEY ARE ALL SAFE WITH THESE SELECT STUDIES I FOUND.

[@benjaminw2354]

Can you give an example in which new supply fixed the issues these people are concerned about, without an underlying reduction in the demand that causes these issue. It's very hard to separate the the effects of new housing (or lack thereof) from higher levels of demand. Additionally, the type of housing that poorer people live in is normally torn down during the building permit process to make way for less dense, more luxurious housing. I can also say, from what I've seen as an economics student, that finding the data that you need to actually determine the effects of any of these things is incredibly difficult.

[@gorilladisco9108]

"We are the partee of soince!"

[@liadam2146]

I will give that lady the credit for giving the honest silence instead of blushing out some nonsense words to cover it up.

[@dskyy2001]

This politician demonstrates the failure of our education system.

[@MarekBobosik]

It demonstrates too many emotional females in politics... They don't care about facts and they won't stop until they get it and ruin everything men built...

[@MidwestArtMan]

I think she did pretty well. She successfully listed all of the places where socialism worked.

[@michaelburkhart4550]

Bar trick from a wealthy family masquerading as a politician. Another installed puppet.

[@asandman354]

I think the root problem is the culture at large.

[@babydriver8134]

LOL But it is NOT a failure, our controllers have exactly what they want. Ignorant and stupid people are so easy to manipulate.

[@SomeTomfoolery]

I was blown away by how loud those pauses were, they spoke volumes. I respect her greatly for agreeing to come on in the first place. I can only pray those moments of silence become moments of real self-reflection for her. Outstanding video, thank you Stossel.

[@scottslotterbeck3796]

To put her lack of intelligence in display was... wonderful. She's used to a fawning press licking her Ugg boots.

[@dianamgutierrez466]

All I know is that rent is too damn high and that needs to change.

[@avipharmd7646]

"rent is too damn high" - As a landlord, I agree. But that is only because new construction has slowed down to a crawl (NYC). In addition, many landlords are deliberately leaving their rent stabilized apartments vacant once the tenant leaves. A risk/cost analysis makes it obvious to the landlord that if he/she rents the vacant stabilized apartment, he/she will actually loose money. So now there is a smaller selection of available apartments. A vast majority of them are not rent controlled. Those available apartments set price due to demand and are not handicapped by stabilized laws. That's why the rent is so damn high. My friend rented an apartment for $2200 per month in 2021. Now her rent is $3000 and there is nothing she can do.

[@mattbosley3531]

A lot of that is because of the government, because of property taxes. The landlord has to pay for maintenance, and taxes. And in order to do that they have to charge enough rent. And governments tend to raise the value of properties regularly and raise taxes on those properties.

[@xpusostomos]

If you want a simplistic answer why rent is too high, it's government regulation, especially of land use.

[@avipharmd7646]

exactly right. maintaining a property is very very expensive and when the government dictates how much rent you can charge, a landlord will take every possible shortcut to save money.@@theagreen204

[@carsonc29]

@@avipharmd7646what difference does it make it they build new apartments if EVERYTHING they build is "luxury" and ends up being over priced? if Larry the renter cant afford the 1200$ a month rent for his 1 BDRM 600 sq ft apartment, how is having 100 new apartments buildings ALL priced at that same 1200$ a month rent gonna help?? it doesnt

[@ChristopherRyans]

John Stossel is an American hero and Legend. Where would this country be at about independent journalist like him?

[@jamesdrake2378]

He is the opposite of AOC

[@24juan68]

That would be her top of the list of of regret in life

[@Nixontheman]

We need Stossel force multipliers’

[@MH-eu1dr]

The best thing about him is that his facial hair regularly changes and it makes him interesting to watch.

[@cyrusthegreat7472]

Does he have children?

[@lauriec7435]

The moment she paused and knew she was wrong was a glorious moment.

[@beatrixkills1]

Sad thing is she knows she's wrong but won't change her worldview.

[@SecureLemons]

@@beatrixkills1 well too be fair, you cant really change any person's mind with a conversation after they've hit 20 years, after a couple days or weeks sure, but that just isnt how political concepts are conceived. they pull very deep strings and it takes a lot of time to rewire them.

[@SecureLemons]

@@beatrixkills1 for example: she still has liberal parents, and liberal friends and goes to a liberal school with liberal teachers. a lot of people mentally survive on communist doctrine

[@Jeremy-iv9bc]

These people don't care about anyone but themselves. Getting reelected is the only thing they care about.

[@ILovePancakes24]

No commie or socialist will survive communism. They will eventually start eating each other.

[@GunMeat]

I have born in the socialist Poland and cant believe US people are VOLUNTARILY building socialism now !

[@gregdarbonne8137]

As Ocasio-Cortez says, "People More Concerned About Me Being "Factually Correct" Than "Morally Right". Great work, as always. Keep pushing politicians to make decisions based on evidence, rather than on their feelings, which end up actually hurting their constituents! Thanks!!

[@SeraphsWitness]

Right. You CAN'T be morally right without first being factually correct.

[@MidnightPolaris800]

Thats what happens with women in government

[@cda4662]

Well, we allknowabout DIZZY, DEE aka AOC (ass on charge)?

[@ragnarok7976]

It's like if you can't first be considered factually correct then why would anyone ever even assume that your morality is right?

[@Goobie77]

She’s neither!

[@midwestribeye7820]

Mr. Stossel is a bundle of facts and common sense.

[@szymonmirek6389]

Common sense is literally almost always wrong. Start believing experts not your own uninformed feelings

[@jaishree701]

@@szymonmirek6389 but rent of 2000 or 3000 $ is extremely heavy

[@SecureLemons]

@donfs S jebaited

[@ThePoliticalOrangeAngler]

@@szymonmirek6389 Your reply is lacking common sense.

[@tg5369]

@@szymonmirek6389 - Stossel backs his common sense up with facts and evidence, both historical AND anecdotal. I’d like for your citations to prove your dubious claim that common sense is ‘literally almost always wrong’.

[@NoamBadash_]

I am a law student from Israel, doing my seminar in rent control, seems that economic principles work everywhere on earth, just like gravity. Thank you for the amazing presentation.

[@jeremytalbot8915]

Could you define it working in terms of housing?

[@FEV369]

Insane to watch a human actively and proudly chose an emotional position over a statistically proven and reality based option. Seeing her answer simple criticisms was like watching a child's mind reboot so they could ask for candy again.

[@RetreatHell]

Agreed. Same could be said about a LOT of policies, bills and laws... including our idiotic involvement in the war in Ukraine.

[@FEV369]

@@RetreatHell Its funny to me that Trump ends the Afghan war that Obama/Biden didn't... Biden manages to fudge the last part of the Afghan pull out, and then spends 40 billion in Ukraine knowing Russia is aware it's really the US they are at war with now. Dems like wars.

[@cda4662]

exactly, well she is there to be the voice of her people, whether is right or wrong, what if her people said, we want a brothel on every floor, would she argue for that also

[@joshwheeler9700]

We choose "Truth" over facts

[@dudestoked]

It never ceases to amaze me...

[@brandinshaeffer8970]

We own a few rental properties and let me tell you...after homeowners insurance, property taxes, handyman expenses, pricey replacements like roof/hot water heater/AC unit, and lawn care, we aren't getting rich off of it. Whoever called it "passive income" was never a smalltime landlord.

[@rydaddy2867]

The only period of time over which my parents made money on the rentals they owned (duplexes and a single-family house) were when the rentals were still new and after the construction loans were paid off. Dad built them all himself, so the loans were not large. Once they hit an age where they needed regular maintenance, dad determined it was cheaper, factoring in his time, to sell them to the tenants and bail out. The family in the single house bought it, with a heavy discount for years of rent paid. And one side of each of the duplexes bought the whole duplex as the rent on the other side paid the mortgage for them, as long as they kept it occupied. Dad laid out a financial plan for each building that was extremely beneficial to both him and the tenants, hence at least 1 tenant in each building took the offer.

[@colormedubious4747]

CONGRESS called it a "passive activity." That's the kind of nonsense you get when attorneys (instead of accountants) write tax laws.

[@souchoysaeteurn5211]

That's terrible. On top of that, potential lawsuits at every corner.

[@johnbaker7322]

Also my experience. Contractors are extremely expensive. Trying to work with people behind on rent is a nightmare at times as well. I hate asking people to move. Dealing with tenants behind on rent is easily the worst part of the job for me. There are definitely nasty landlords I am aware of but that doesn't mean a blanket policy is in order. I feel like if my local government would take the guys who are actual slum lords and fine them or put them in jail then there would less of a need for "rent control". I know a man who has tenants who were recently hospitalized by sewer fumes because he refused to fix a sewage problem. He also charges hundreds more than we do. It blows my mind he isn't in jail for endangering his tenants.

[@rydaddy2867]

@@johnbaker7322 And at the same time you get tenents that are just naive to how anything works. We had one who went on vacation in the dead of Wisconsin winter and shut off the heat to save money. Broken pipes everywhere and both toilets shattered from freezing. Another place had a pool and rather than maintain proper chemical balance the tenant pumped the 30,000 gallons of water into the yard and was going to refill it with the garden hose...except the liner tore away as soon as the water was gone. Dad filled the pool with sand after that and then sold the house :)

[@BeeRumblin13]

My rent went up $30 u.s. dollars last year. This year i just got my lease renewal and it went up $300. For an apartment in the borderline ghetto. Where do people move to when rent gets that high? Gas is more ,food is more ,rent is more. I wasn't poor 2 years ago. Now i am.

[@zeldaharris6876]

Move to where rent is cheaper which maybe in another Suburb, City, or State.

[@FilamentFriday]

Those pauses were priceless. Haha.

[@ledzeppelin1212]

Better than screaming at him like a typical leftie, so I'll give her that.

[@dizkoteck]

Uuuuhhhh....

[@packergeek10]

It's brutal. She like other liberals like AOC are basically Tik Tok politicians that do things that sound compassionate on paper but end up making things twice as bad.

[@OverlyCriticalAnime]

For real. She got destroyed by a simple question. OOF

[@dizkoteck]

@@OverlyCriticalAnime totally need to make an npc meme of this

[@franciscodanconia4324]

The scariest part of that interview with the Minneapolis councilwoman was not that she was ignorant (and annoyingly rolled her eyes every time she was asked a hard question), but that she was unwilling, when confronted with facts, to acknowledge them since they didn't fit with her ideology. Exactly like Obama when he was confronted in that debate when he was asked if he'd support cap gains tax hikes even if those hikes resulted in less tax revenue. The ideology is more important than the outcome.

[@nerdicusdorkum2923]

Sure everyone knows this by this point, but that eye rolling thing is a red flag that someone is attempting to make something up, usually because they don't have an answer on the spot. Aka, lying. Or in her case, buzzword salad.

[@longarmsgiraffe0955]

At least she agreed to be interviewed by someone she knew wouldn't agree with her. That's more than 99% of politicians so good for her

[@Coolsomeone234]

Obama actually blames NIMBYs for preventing more housing being built btw

[@jabberwolf7348]

I'm in San Francisco and this is the EXACT problem !! I own, so this is making my property more expensive - but its the same reason that rent is so expensive. Owners DONT WANT TO RENT because they have no control, there is less inventory, and thus the remaining rooms to rent - are WAY over priced. The hotels also shut down air-bnb , so now the hotels can raise their prices much higher. People now, don't even use hotels in SF, but rent outside the city and take bart (the subway) into it !

[@jabberwolf7348]

@@SigFigNewton Rents fell around the end of the pandemic - because everyone left. And those who were smart enough to see this (because it rarely happens), returned and got a good deal. Rents since then, have remained high and still remained high. News tries to give the impression that people are leaving San Francisco, but neglects to inform, that they have and are returning. Rent and housing control still remains the reason for (over-all) high rates. (rent in the San Francisco metro area was up 9.5% at the end of 2022 from the previous year)

[@jabberwolf7348]

@@SigFigNewton I wish I were smart enough to sell at the beginning of 2020, but I didnt know there would be a pandemic :D Real estate (solid assets) still remains the best investment against inflation. Parts of San Francisco devalued but real estate (even in a city) happens in bubbles. In my part of the city, the price remained fairly steady.

[@jabberwolf7348]

@@SigFigNewton How are those stocks doing at the moment ? ;)

[@jabberwolf7348]

@@SigFigNewton What recovery ? it hasnt gone down if you picked the right locations. I guess could say the same about stock, but almost everything is down in the stock. Keep buying thinking it will go up buddy...

[@Groet]

I live in Sweden where there is rent control. All of the larger cities have problem with not enough housing. Instead of letting the market decide the price a lot of the larger companies implement a queue system, since the demand is so high. If you want to get a standard apartment in a larger city you need at least 10-15 years in that queue to get a shot at an apartment.

[@jb8408]

Crazy. Is this true? That seems so insane. Having to wait a decade for a place to live doesn’t seem practical at all.

[@mrdean2539]

@@jb8408 It isn't. Sweden is still crawling out of the mess of several decades of poor financial planning and are hindered by idiots' emotions and a huge influx of non-useful migrants. It really is too bad. It's such a pretty place.

[@Groet]

@@jb8408 there are apartments dedicated to students that are easier to get. You can only live in them while studying. The alternative to having a apartment is to rent from someone who can't use their apartment, it is only allowed for half a year to a year. Another option is to buy a apartment in a condominium, which requires a down payment of 15%, which can be between $30-80k. All of these restrictions leaves immigrants and young people outside of the housing market. A lot of them fall prey to illegal sublets with no security, poor conditions and overpriced.

[@Redmanticore]

however, there is no rent control in Finland, which is Sweden's neighboring country. so even we, who have the same culture, and same politics (social democracy) have differing viewpoints on how to best help the homeless. we think building more, even small apartment complexes that looks a bit soviet actually helps the homeless and keeps rents at a moderate level. so even people with the same political beliefs and in the same geographical area are not a monolith that thinks the same. ( as a social democrat country, we also pay ~800+ euros per month, even if you choose not to do anything at all, for however long you want. rest of your life, if you so choose to. and healthcare, prescriptions for glasses, document expenses like getting a passport, insurances for the apartment, those sorts of things. not many do, only a few percentages of society, but you can if you want. nobody needs to be homeless in here. they can just sign a piece of paper for monthly money assistance at any point they choose. if someone is on the streets here, it's because they really really choose to. very few do. we have blistering winters with cold north winds and -30 Celsius temperatures, yet we don't have homeless being frozen outside in droves. private rent lord owners here love it that government pays the rent. they see themselves as noble providers of housing for the poor. as long as the government keeps paying the rent, that is. )

[@Groet]

@@Redmanticore I heard that in Finland a large part of the population is on housing allowance (bostadsbidrag.) Which kind of defeats the purpose of not having rent control.

[@leshimmel2935]

I left New York City in 1979. I lived in a rent controlled apt. that I paid $125/mo. In the winter the landlord shut down the heat and hot water after about 3 weeks into the month because there was no more money for fueling the building. I watched thousands of buildings burn in the Bronx. It became such a Sh--t hole I left and moved to Florida. That was 42 years ago and I never looked back.

[@TheSloppiestJoe]

One of the best examples of cognitive dissonance playing out on a human being's face in real time.

[@MtnMan-yt9ir]

"I'm doing a just fine job of representing my community."

[@FloppyCheeks.]

What exactly is the other option? Let Landlord's continue to give themselves 20% raises every year? It's always amusing to me how the 'market' argument falls apart when you factor in the monopoly stranglehold Wallstreet firms have on housing... We tried the profit>people approach for half a century and the economics never got around to trickling down.

[@ps_pol_xbox9036]

@@FloppyCheeks.you do realize that the reason why Wall Street firms are able to get so powerful to buy up all these houses is because govt bailed them out during the 2008 recession and they have been receiving corporate welfare subsidies due to lobbying? Not to mention the fed setting interest rates at near zero for the past decade that allowed for quantitative easing and cheap credit which allowed Wall Street to borrow billions of dollars (at a very low interest rate) to buy up all these houses driving the prices artificially high? These are all a product of the central bank and government intervening into the economy, not free markets. In a true free market where interest rates are determined by the market and not a central bank, and where government is not allowed to prop up failing companies, Wall Street would never have this much power over the economy.

[@submariner103182]

I have to give respect to Aisha Chughtai. Even though she got destroyed, she agreed to be interviewed (unlike EVERYONE else). I think she has a good heart and genuinely wants to help people. Her pauses give me hope because instead of giving a canned answer to a question, she's thinking about it and (kind of) realizing she's backed into a corner. Maybe she will eventually see the folly of her ways.

[@MorphingReality]

I'll debate Stossel whenever

[@drinny26]

Shes a typical liberal who is ruled by feeling and emotions and not facts. Thats why liberalism is a mental disorder.

[@paulk9985]

@@MorphingReality Sure you can. The only one who has is a fake wrestler.

[@DennistheMenace2011]

I agree. At least she is not giving a wokified response like those Brandon nominees for Federal appointments when questioned by the Senators and Representatives in Congress during the confirmation hearings.

[@MorphingReality]

@@paulk9985 Gee maybe that is because he doesn't want to have serious long form discussions with qualified individuals :p

[@simonsaysno]

The primary thing all these politicians need to understand is that the real estate market, unlike the soda pop market, is a *delayed* one. I can pack my bag and move to another city tomorrow. However, getting a permit and constructing a new-build can take years. As long as we want our buildings to follow certain rules & regulations determining their location, size & safety, we must simply accept that it will take time responding to housing shortages.

[@maximusgias7256]

There are agencies, companies that track the influx of people coming in and out of the area. Thus having a good view of what the state, city will be. However, if the city fails to make the timely adjustments they will end up same as what we see today. Remember, the best of intentions often do not help.

[@wesjones6370]

and ironically, most of that delay comes from the government as well. They continue to make it even more of a delayed market, then impose controls on it because that delay is impacting their community, which only further deteriorates it. It's the self-fulfilling prophecy.

[@mouseblackcat5263]

Housing Shortage is a Myth, just like Overpopulation is a Myth. There is MORE than enough Space, Food, and Structures for the Human Race's relatively tiny population, BUT the VAST majority of that Space, Food, and Structures are possessions or controlled by the MINORITY of Individuals in Governments and a handful of Mega-Conglomerates. For instance: there would be ZERO hunger in Africa if Governments and Warlords would STOP treating Farms as Political Trinkets and Stealing shipments of Food donations. There would be NO Homelessness if the Drug, Mental Health, and Economic problems CAUSED BY GOVERNMENT were adressed. On and on and on. Crap rolls downhill as they say.

[@romancandlefight1144]

Regulation/zoning is the only reason for shortages. Otherwise people would built speculatively (anticipating demand) much more, and the total amount built would also be much higher

[@AntisocialRedNeckNerd]

"Most of the great problems we face are caused by politicians creating solutions to problems they created in the first place." - Walter E. Williams

[@xvjustvxfps3716]

Supplying more housing doesn't make rent go down. I've never seen, "rent go down". These big companies don't need $1500 a month for a one bedroom to be able to afford materials. This is the same reason there are laws against monopoly. This is greed.

[@davidmandelstamm8725]

I've never known this to happen either... because I doubt that it DOES! Letting "the market"* determine prices has become an unmitigated disaster for renters in recent years. [*Whatever "the market" means?...] As a renter, I know first-hand what it's like to get run out of town (or state) because of rent gouging. It's a complete disconnect nowadays between what MOST people earn and what rents cost. And yes, landlords know full well that wages and rents have to be correlated. That's why in Florida they require a take-home paycheck that's equivalent to 2-1/2 or even 3 times the rent. Just curious... How does somebody just out of college land this type of job? How about seniors (like myself) on fixed incomes?

[@ps_pol_xbox9036]

this is exactly what people were saying in the 1940s, as a result many public housing projects were built in order to combat that, like Pruitt-Igoe, Cabrini-Green, and Robert-Taylor homes. These houses were specifically built to house lower income people and rents were set and maintained at extremely affordable prices. And guess what happened after that? These projects became crime ridden ghettos. The local government was not able to raise enough revenue through rent or taxes to keep up with the cost of repair and maintenance of these homes, coupled with the fact that many residents had enough of the crime and those with barely enough money left these homes to live in safer neighborhoods while most decided to live on the streets since according to them being homeless was safer than living in those homes. This decrease in residents further reduced rent revenue. Criminal gangs continued to ravage these homes, increasing repair costs. In the end, the state of these homes were in such bad shape and disrepair that the government had to demolish them. Just goes to show that all these "solutions" for combatting high rent prices end up making the problem worse.

[@jgreaders2451]

WOW, why not rent out then?

[@dlg5485]

Exactly. It's not the mom and pop landlords that are driving the rent crisis, it's the multi-billion dollar property managers that ONLY care about maximizing profit margins. This is why huge investment firms should be limited on how many properties they can own, in order to maintain a healthy level of competition in the rental market. This basic concept of competition should be applied to every industry.

[@dlg5485]

@morgan14366 The real question is WHY is there such a lack of (affordable) housing? Truth is, every major city in the USA has 1000s of empty units that sit empty because no one can afford to rent them, and the property managers are fine with leaving them empty because they are gouging their existing resident enough to compensate. Also, I will never understand why so many 'regular people' (i.e. not rich) carry water for these multi-billion dollar corporate monsters that don't give a fck about you. The status quo damn sure isn't working for renters, so I'm all for sensible regulations to reign in these massive property managers...and you should be too.

[@Reddeadredemption3]

makes me sad seeing John getting older, we need more people like you John

[@midwestribeye7820]

Funny you say that. I was just thinking how he's aging really well. Still handsome and looks fit.

[@mexicancanteen9596]

@@midwestribeye7820 Right? Stossel's a stud.

[@StosselTV]

Makes me sad too.

[@Loki-pd3zj]

@@StosselTV love your work

[@sandymoonstone855]

. Mark : John can't afford 2 shave

[@GabeSweetMan]

The fact that she seems to have been genuinely considering what John was asking rather than immediately attacking his character out of partisan ideological possession gives me some hope for her eventually coming around to a more libertarian perspective. Unfortunately it won't be until after the damage is done. Ignorance is no excuse.

[@crabmannyjoe2]

Or it could be worse. She knows her ideas won't work and goes through with them anyways.

[@GabeSweetMan]

@@crabmannyjoe2 I doubt she would have bothered to even do the interview if that were the case. Why would you knowingly put yourself in a position to look like a fool unless you believe the nonsense you're espousing. There's a reason leftists refuse to do interviews. Those are the malicious actors who KNOW they are being duplicitous.

[@jeffstanley4593]

She was not considering the question. She was dumbfounded and knew she was a fool. She had no reason like when a parent says "just because".

[@GabeSweetMan]

@@jeffstanley4593 You can't say that definitively. You can read whatever you like out of silence. That was the lesson of the Salem Witch Trials which directly informed the 5th Amendment of our Constitution. If silence is all you need to "prove" someone is thinking something or making a statement by omission, you'd make for an easy mark on a jury like when the prosecutors tried it multiple times throughout the Rittenhouse trial. I will re-assert that I believe she was genuinely considering the question, but simply didn't have an answer because she's never given it any critical thought beyond feeling justified for "doing what's right."

[@jeffstanley4593]

@@GabeSweetMan Are you going to maintain that she did indeed know what to say but did not say it? Are you indicating that she thought John was wrong but was unable to express herself? Are you saying that perhaps she thought John was a fool and did not want to embarrass him? Are you saying that maybe she was going to make her own YT video and explain her reasons for promoting rent control then? Just what do you think? Tell us what you think she meant to convey by her silence and "deer caught in the headlights look". I mean, you are writing that she had thoughts but did not want to express them; right?

[@JamesZaraza-wv3gt]

I worked both in the Twin cities and Chicago as a union carpenter during the building boom. I wouldn’t want any of the units that I built, even the high end. Green building has been extensively advocated since the 70’s as a more sustainable approach to building. However, when the free market is allowed to go unchecked, you get real estate agent demanded finishes, unusable square footage, minimal insulation and framing, and a “tail light warranty”. Not only do renters deserve better, but homeowners who plan to ride out their mortgage do as well. What I love about St. Paul is the wealth of knowledge and skills laying untapped beneath the surface. Even if it takes the largest rollout of non-for-profit projects ever witnessed, they will find a way. Viva la socialism🥳

[@neilabernath5862]

I'm a landlord in St Paul, we are limited to a three percent increase per year, yet our property tax increase has been about ten percent a year for the past five years and we're expecting utilities, especially heat, to increase by twenty percent this year. how fair or reasonable is this.

[@scottslotterbeck3796]

Sell. Let St. Paul live in the streets. That's what Democrats want

[@chrisbaker2669]

Did you know that you can get a base rent plus property taxes in a rental agreement so you can make the renter pay property taxes?

[@fraydnot]

I have owned a few rental properties with a management company managing them. They would tell me that I should be asking $100 more monthly according to the market. I only increased by $25 due to the property taxes going up. I had great tenants that took care of the property, didn't want to lose them. Good on the council woman for a least appearing, hopefully you prompted her to research her decision Thanks Mr. Stossel for taking on issues that others are afraid to look into.

[@ledzeppelin1212]

I had a landlord that didn't raise my rent. He said we were some of his best tenants ever. We treated him well and he did the same to my roommates and me.

[@davidfstanford]

It is good of her. So many lefties can't even defend their position. Even if she is wrong, I respect her for having a discussion.

[@charlielamb4606]

sheep, waiting to be culled. charge your expenses fully.

[@pauls3117]

Exactly how it is where I am. I owned my house, then divorced, now I rent. My rent is reasonable, I don't bother the landlord, I understand all my rent isn't profit. I literally have zero headaches. Mail my check every month and treat the place like it's my own.

[@robertm.6583]

You are all lucky. Most landlords don't have any rights anymore. It is not worth it unless you are really organized and hire a management company and guess what that does to the rent price?

[@cheeserat2020]

To me it seems that because these landlords can’t increase the price of rent so high to “kick out” old tenants, they’re resorting to letting their properties slowly go to sh*t so renters are forced to move. Because landlords aren’t investing in their old properties anymore, builders don’t want to come by and build new housing if they see no increase value.

[@UserName-ts3sp]

los angeles, san francisco and new york use rent controls. those are three of the most expensive cities in the country, dramatically higher than even other big cities like chicago or atlanta

[@johnbaker7322]

And the end result is the most homeless in the country as well.

[@jb8408]

But if they actually fixed the problems instead of making things worse, why would Democrat voters keep voting for them? 😏

[@lisalisalisalisa7]

@@johnbaker7322 It amazes me that people don't see the correlation equals causation aspect of that. But then again, there are a lot of people that do not have logic as a primary characteristic anymore. Ugh.

[@juanchavira4882]

They use rent control because of the skyrocketing rents. Not the other way around. Rent control wouldnt need to exist if financial institutions weren't treating housing like an investment vehicle and pricing out the average resident from their community. With rents doubling since the pandemic for some residents, I don't know why people have the audacity to feel bad for multi million dollar project developers. They're price price gouging a necessity, but its legal for some reason when it comes to housing.

[@jaycee6063]

@@juanchavira4882 Estas pendejo Juan. Where has rent control resulted in more affordable housing?

[@TheCarnivoreSoprano]

Maybe that city council member pausing is a moment that she was thinking. Maybe you got through to her. I hope she keeps thinking. I hope she changes her mind. Her bad ideas will hurt more people.

[@josealexi5141]

hope in one hand and defecate in the other. Tell me which one fills up faster. She claimed to be a socialist, yet couldn't answer where on Earth socialism actually _WORKS_ !!! I'd say she's both clueless & hopeless.

[@EroticOnion23]

Thinking of an excuse maybe, they only want votes!!

[@cda4662]

she won't, she will lose being their representative and you can see she loves her position

[@dizkoteck]

She ain't thinking critically. She's thinking of excuses

[@stevenscott2136]

She's going through her list of scripted talking points, looking for one that seems relevant.

[@christopherrivera710]

Rent control is a must when you take into account that rents across America have spiked significantly the last 3 years. Rent payments are now 30% or higher of people’s incomes. While wages have remained stagnant, inflation has brought prices up. If someone who rents an apartment sees 3% rent increase each year without a raise, within a few years time that can overwhelm even a large salary employee. It all comes down to government regulation and housing being seen as a human right rather than an investment. It’s embarrassing to live in a first world country that has hundreds of thousands of people living on the streets when the problem could EASILY be solved with government intervention. These corporations come in and buy hundreds of properties and can raise rents in an entire county due to its monopoly. There needs to be limits on how much rent can be raised, how many properties a real estate company can purchase/own in one area, and heavy taxes on owning investment properties.

[@bvoyelr]

"We have to act now!" - The clarion call for something that absolutely does NOT need immediate action.

[@cda4662]

is ALWAYS, "We have to act now!"

[@jackalenterprisesofohio]

@@cda4662 or _THINK OF THE POOR CHILDREN_ _THEY'LL NEVER LEARN THEIR GAYBC'S NOW!!!!!_

[@cottreda]

The poor rent control advocate just got schooled. The silence was the sound of a few new facts getting sucked into her ideological vacuum and having no place to land. "Uuuuhhhhh, I'm just going to stick with ignorance, John. Works for me. Got me elected."

[@cda4662]

she got owned by john

[@musek5048]

and that smirk on her face as she gave that weak ass bullshit answer after having to think about it with her last remaining brain cells just gives you the big picture of what the real problem in this country is. people like this KNOWING they can get away with it because of how little attention the public gives this.

[@mitchd949]

She didn't learn anything. She doubled down on her nonsense saying she is representing her constituents well. Stupid people vote for stupid candidates.

[@Redmanticore]

even in soviet and now in china, the government mass built apartment complexes to have no homeless people and to mass migrate millions of workers into cities. if you don't build anything, of course no problem will be fixed....

[@MorphingReality]

0.11% of rental homes are rent-controlled, and 10% of homes are vacant, lack of supply isn't the determining factor. Same in commercial, up to 30% of storefronts in affluent parts of NYC continue to be vacant, its not lack of supply, nobody can afford to operate at those levels.

[@Opeandaway]

You know what else hurts the renter? Slumlords who just paint over everything and then charge 1500 a month for a studio apartment in the middle of the ghetto.

[@channell11]

They wouldn't be able to charge that if people weren't paying it. Ultimately the renter sets the market as they determine the price they'll pay.

[@jomr4249]

@@channell11Unfortunately people HAVE to pay it because the housing market is now unattainable, so people can't buy, thus, they are forced to rent and pay the outrageous prices. Housing is a necessity. It's not just something people "can not pay" if they don't want to. That's why rent control is even a topic.

[@maddhatter3564]

maybe because it costs 1300 a month to maintain the apartment

[@maddhatter3564]

Rent control CAUSES slums. Make renting apartments almost unaffordable and corners get cut.

[@me-myself-i787]

​@@jomr4249America is big enough that every American could own a 30m2 plot of land. There's plenty out there. You only have to pay exorbitant rents if you want to live in a big city.

[@IMRROcom]

I have hear that some landlords just let the property go to the municipality when it cost more to fix than they can make. The municipality gets it and can not maintain it or sell it, they evict the tenants and condemn the building, nothing is built to replace that apartment block. 25 units are now gone.

[@SirKenchalot]

"We don't need math or economics; We need solutions that make us feel and look good!'

[@travisb1757]

A perfect example of public education!

[@laverdadbuscador]

A moderate approach to rent control is needed to protect people and provide stability to families. Rent increases should only happen 1x a yr and shouldn't be too high above inflation rate. Its more like "catastrophic insurance" if you will. Sure your rent will go up and it might sting a little.....but you won't be put on the street. Having an entire society live in an eBay home is NOT stable to local economy. Landlords rob the economy of disposible income. Building regulations need simplified and permits lowered so its lucrative for them to build still.

[@gullijons9135]

Sweden has had rent control since WWII, the average waiting time for a rental apartment in Stockholm is now 10 years. People register their kids on waiting lists when they are born. This is effectively the exact same problem as the Soviet Union had on pretty much every product.

[@jackalenterprisesofohio]

Just like ordering a trabant 601 deluxe _With a two stroke engine this is a modern feat of enginering, 70 years ago_ buy one today!!!!* (*wait time may be approximately 10 years.)

[@jbdragon3295]

So no one wants to build NEW, so you have a huge supply shortage because of rent control. Thatis just insane and yet nothing is done to change things.

[@gullijons9135]

@@jbdragon3295 It's not that no new rental housing is built but for decades supply was way below what was needed. Now in some municipalities construction companies wanting to build condominiums are forced to build rental housing as well to get building permits. Fully privately owned apartments were not legal in Sweden until very recently (you could own a house) so condominiums and rental were the only form of apartments available. This of course set the rental market even more off.

[@beng4151]

That is interesting. Where do people live in the meantime?

[@gullijons9135]

​@@beng4151 Where do people end up when there's an artificially created shortage? The Black Market! People are staying longer with their parents or subletting, often illegally. But a lot of people end up on the black market, illegal garage conversions, industrial buildings, atticks, basements, even caravans and tents in some extreme cases. Illegally converted apartments, just in my apartment building (condominium) two owners have been evacuated in the last two years because they converted their apartment into two smaller apartments without permission. This is quite common especially around Stockholm.

[@SeraphsWitness]

The pause was stunning. You can see her brain slam headlong into facts and simply reject them without a thought. "guarantee housing"? South Africa's constitution "guarantees" housing as a human right, ask them how that's going. These magic wand politicians astound me.

[@TheRisky9]

I understand why people want to use government to solve social woes. I get it. But if you're going to do something to help people, you better make sure it actually helps people and doesn't make their situation worse.

[@SeraphsWitness]

@@TheRisky9 and that's the problem. Government plans almost always involve bad negative incentives and unintended consequences.

[@JP-sf5er]

I see both sides. There are plenty of landlords who own their buildings outright and yet still ask for outrageous rents when it's the tenants who have paid off their mortgages in the first place. That's just pure greed. Not everyone can afford over 2000 a month and wish to ever be able to save for their own houses?

[@nathanielscreativecollecti6392]

"Don't elected officials research issues before imposing government force on others?" No, no they don't.

[@MorphingReality]

1% of US cities have rent control (6 of the 50 largest), most of them are in 3 states. More than 20% of American renters spend 50%+ of their income on rent.

[@iguess2739]

@@MorphingReality I don't know about 20%. I think it is higher since 50% is just below the calculated median in 2018 people spend as a % of their total income on (let alone today)

[@MorphingReality]

@@iguess2739 The figure I found was 23%, in any case its too high.

[@migl3098]

This definitely did not go the way she pictured it! Thank you John for the work you do! Us real grateful Americans truly appreciate it!

[@freeindeed8416]

Wouldn’t the solution be stricter penalties on absentee and negligent landlords

[@paulbrungardt9823]

My boss is a landlord. He refuses to raise the rents beyond his yearly increase in taxes, insurance & repairs. He has a fixed mortgage rate, so his mortgage payments don't increase. His philosophy is : What goes around, comes around.

[@mph5896]

Wonder how much he raised it the past 2 years. Those expenses you mentioned have shot up.

[@douglasjacobs882]

sounds good, up until the rent cap doesn't allow him to cover the increase in his costs. The fixed mortgage of an existing structure allows him that leeway to control his costs. imagine if he wanted to build a new structure and the cost of building materials and labor was double what it was a couple years ago but the most he could rent it for was fixed to what rent was two years ago. would he be willing to eat the loss or would he just not build.

[@paulbrungardt9823]

@@mph5896 Yes, they have He raised the rent 5 % in 2020, 2021 & 2022. He started out in working class family, went to university, then optometry school. He says he knows what it is like to be uncertain about the future. This is cruel to unduly profit from American's poor choice in a president.

[@paulbrungardt9823]

@@douglasjacobs882 I agree. Fortunately his property is in Tampa, Florida. Tampa is still a free city. If he built a a new structure, yes, things would be different; he would have rents reflect Bidenflation costs.

[@nadominhoca]

You see, this is the beauty of a free economy. Minimum regulation. People making their own decisions. If your boss don;t wanna raise rent, he is more than able to do so.

[@wafflemon1858]

This young lady doesn't actually care about lowering rent. If she wins then her fight is over and her base doesn't need her anymore.

[@packergeek10]

Yep. Liberals have no interest in fixing the issues because then they wouldn't have anything to run on.

[@RjeanUrah]

I think she actually does care...The problem is, on a surface level, rent control appears to be the most obvious solution. It's really no surprise when so many cling to what seems to be the obvious solution. Unfortunately, things are not always what they seem.

[@wafflemon1858]

@@RjeanUrah If she really cared she would educate herself and do more research. Her inability to answer very important questions in that interview only demonstrates her ignorance. To go out in public and scream with passion about something she doesn't understand makes her unfit for office.

[@RjeanUrah]

@@wafflemon1858yes, true.

[@batrarohit1]

@@wafflemon1858 It's moreso a problem, and we've seen this nonstop, people are just incapable of thinking past first order consequences. No one thinks about the second or third order consequences. E.g. lockdowns will save grandma! Print money and hand it out to people. Without thinking that more people will likely die from global food crises, high energy prices, and poor will suffer more from inflation.

[@jasonlassiter9229]

I’m split in the middle on this one, I agree 50% with John and his way of thinking, but I also agree that some stricter guidelines need to be put into place. Not all economic crises can be explained simply by the law of supply and demand.

[@metalman666ization]

"Asking a socialist where prices come from is like asking a 6-year old where babies come from." Thomas Sowell, paraphrased

[@TheSiprianus]

Well, with this current alphabet community power on public school, pretty sure a lot of them already know where babies come from. Watch "What is a woman" by Matt Walsh.

[@metalman666ization]

@@TheSiprianusWhat does Matt Walsh have to do with the Left's universal economic illiteracy?

[@SeraphsWitness]

@@TheSiprianus amazing documentary

[@shawnpatton3795]

And because of prices and profits we have so many of our parts/products outsourced to other countries instead of the US because of costs.

[@Witty..UserName]

imagine a sowell stossel ticket, that would be a potential 16 years of common sense & government shrinkage

[@RWPeck]

As a landlord, my rents have increased dramatically in the past few years. I feel sorry for my tenants and don't know how they can bear such costs. But the fact is that my rents have increased by approximately the same amount that my property taxes, materials and labor for repairs, and personal food and transportation costs have increased. And those costs have increased by approximately the same amount as government spending, the national debit, and the new currency printed by the Federal Reserve to facilitate that debit.

[@moneyobsessed]

what? you must be a rich pig. governement promised us to take care of everything? are you criticizing our great lgbtqaszxwsu leaders? Re- education camp now, NOW!!!!!

[@jfangm]

Hey, you gotta eat too.

[@dutchvanderlinde658]

If the democrats want to drive prices up, we gotta drive our prices up with them to survive. Sad truth.

[@neovenom9833]

Geez, who would have imagined that raising cost on maintaining property and keeping up to date to regulations would drive the rent up. Actually quite scary to have these dumb bricks of politicians being in charge.

[@DennistheMenace2011]

Rent control is a very effective way to kill a city!

[@ChannelZeroOne]

I stopped renting out my properties a long time ago because it was less costly to keep the home vacant. 2 years of having a tenant cost me more than the rent I collected. Then I had to pay taxes for the money I collected.

[@vikingkirk762]

lol

[@uncareid5557]

I worked with a builder years ago (I'm sure he is long dead) who told me his accountant scolded him for keeping half his rental units vacant. He was renting them at a discount to tenants paying cash.

[@ChannelZeroOne]

@@uncareid5557 You are better off keeping them vacant that way you can write it off as a loss. Its much more complicated to write off the loss when you are collecting rent money.

[@vinnieriley7227]

My landlord is very insistent that I pay rent in cash. And he is politically self described as "extreme left wing".

[@OpinionFactChecker]

My father knew that 35 years ago. Commercial property is a different story!

[@jl6723]

I was renting out an apartment in Florida recently. The prices felt very high in the area I was checking out and I talked to the folks in that area. They explained that since it was close to a military base and there were a lot of people who moved in spurts, rent prices there were up, but if you went 10 miles down the rents went down significantly. The price was based not on the Greed, but the market conditions that one needs to go and research. It is important to talk with everyone involved with the industry and you can find out why things are the way they are and what you can do about it. One suggestion by the people in the area that I knew was the improvement of the local roads and building of new ones as that would make the commute shorter allowing for people to be more accepting of a commute and opening up competition and expanding supply. Beforehand, I never thought of the idea that improvements to transportation can bring down rent prices, but it seems like a very effective thing that people can advocate for.

[@vikingkirk762]

No. It's 100% GREED.

[@poptraxx418]

@@vikingkirk762 is greed bad

[@mikeforte7585]

@@vikingkirk762 I live in Central Florida and it's pathetic on how much rent has gone up for lots of families...WHY?....corporate investors have come in and over paid for houses and ruined the American dream for middle class families and are gouging people to rent their properties...as a result I have seen families struggle with relocating out of the area to find an affordable place to live...this is real hard on families with kids in school...land lords who have owned properties for years have jacked up rent as much as 700 dollars a month...WHY?.....out right larceny.

[@shanewaters2489]

​@@SigFigNewton landlords show up to shut down new developments every opportunity they get and help fund commercials to remind its home owning city members that housing development will lower their property values too. Pretending they are pro building is ridiculous. 99 percent of landlords are buying properties that already existed and contributing effectually nothing but being a leach to society.

[@BMHomeServices]

As a home owner and resident of the twin cities suburb area, I can confirm all of these statistics are correct. People are fleeing the downtown areas and moving away from the city, thus increasing even outside city rent as well now.

[@jobhater92]

Also don't forget the crime in Mpls/St. Paul is pushing people to move to the suburbs as well which isn't helping the rent situation either

[@lawrencearnemann3923]

I paid cash for my house. Aside from taxes I'm done with the money game

[@foxboi6309]

Democrats: "High rents are extortion!" ALSO Democrats: "High taxes are good!"

[@ekinteko]

Actually, a lot of American problems would be solved with Rent Control and Higher Taxes. Sorry to say John Stossel is objectively wrong on this one. Majority of American wealth is created by the people, who bring goods, services, and innovation to the market. That relies on a populace that is healthy, wealthy, and wise. Instead, USA is poverty stricken as many goods are outsourced to overseas, many services are partially outsourced (or done by cheap labour), and innovation has plateaued. The corporations are rich, in fact, they have never been as rich today in history. So the take-home message is that, the height of USA has been during the 1940s-1970s, with the steady decline beginning in the late 1970s. Falling off the gold-standard was the start which had a big effect, since now there is no-one to keep the government in-check/responsible from printing too much fiat. The other factor is that corporations have begun paying and bribing politicians to enact laws in their favour. Especially when it comes to subsidies and taxes. Essentially they have put the burden of tax on the middle-class. Historically, tax was a tool used by the kings and presidents to get big companies to put skin-in-the-game. The current system has the consequences of filtering money created by the people, and sending it back up the channel. This gets concentrated to the few at the top, especially The Bankers. So you really need a massive taxation reform, that is levied against the top 5% of wealthy individuals. Then to use these funds to stimulate the economy. But not from top-down (trickle), nor from bottom-up (welfare). You do it by strengthening the middle-class, giving the people Equal Opportunity to rise up the social ranks. The best ways to go about this is through proper education, quality services, necessary infrastructure, and affordable healthcare. Now, the other point is that USD is fiat (limitless) whereas Land/Property is limited. So you can "slow" things down, but you cannot stop it. The value of the dollar will travel towards zero, whilst land prices will travel towards infinity. The solution is actually rent control. You need low-rent prices so that you can burn off the bad businesses. There are many contractors, property developers, and landlords which unfairly profit from the burden of others. And they create pressure in the market, which perpetually increases prices (usually cyclically). If you remove the incentive for profits, the bad businesses leave. That's a great thing. It is a great thing for landlords as well, because it means the "leeches" who don't contribute to the economy and engage in rent-seeking-behaviour are also not able to function. Meanwhile, regular landlords are not affected. Besides majority of landlords don't make a meaningful profit since that money just gets siphoned back up to The Banker. Remember, if you increase the quality of life for productive people, that is like planting a seed. That in-turn provides goods and services to the market, creates innovations, which all expands the economy. Right now on a superficial look, that is what it looks like is happening in the USA, but the truth is, the figures are distorted by the Corporations. As an analogy, if you had 99 poor people in a bar and Bill Gates walks in, suddenly the average person there is a multi-millionaire whereas the median person has not changed. For the past 40-years the Rulers (Politicians, Bankers, Corporations) have been neglecting the central socio-economical people, or actively taking funds from there, which leads to the erosion of the Middle Class. So how is it these corporations have been able to survive, or sustain, or even have record-growth then? It is because they have outsourced many tasks to other peoples in other nations, and they have kept the proceedings. We can see this with the rise of the Chinese and Indian economy (and to some extent: Mexican, Brasilian, Russian).

[@RMTP5]

@@ekinteko That was a really long and frankly unconvincing case for rent control. How are "regular landlords" NOT affected by being unable to raise rent enough to keep up with inflation, and by the local government forbidding the market from functioning? Especially if the "majority of landlords don't make a meaningful profit" as it is? Yes fiat money is bad and the Fed should be abolished, but your argument about rent control makes no sense and doesn't logically follow from that point.

[@ekinteko]

@@RMTP5 Alright, I'll try to keep in brief. When you look at different cities around the world such as Toronto, Sydney, Hong Kong, London, Melbourne, Tokyo, etc etc. There is a clear pattern occurring. The cost of house prices has increased significantly, more than wage increases and more than inflation. In fact, more than both combined. This effectively creates two class system: haves and have-nots. Now that in itself is a big problem, but isn't a deal-breaker. However the housing bubble in those locations is caused by a speculative investment, and not treated as what it ought to be 'basic necessity'. So if you follow the history in those markets, you can see they are fuelled by the banking sector. There's people struggling with huge downpayment just to get a mortgage. Then they realise they're paying huge sums in interest to the bank. And they accept this because of "tomorrow's fool" thinking. So that when the value goes up, that at least they would be rewarded for their investment. This is a shortsighted approach because it leaves the house-occupier out of the equation. How are they going to afford it? I don't know, that's their problem, is the general thinking I've discovered. So in order to make this financially viable, when the house price increases, and the interest rate increases, it doesn't take very long for landlords to demand a higher rent. Essentially they pass the buck. And we see a shifting of money from the middle class, to landlords, to realtors, to bankers. It is a viscous cycle.

[@ekinteko]

I can elaborate on more points later if you wish. And expand upon somethings that have not made sense to you. But the gist is, John is absolutely wrong on this problem. And he knows it. He is using things that are unrelated to obfuscate the issue. The lady in the interview isn't the brightest tool in the chestdrawer, and perhaps shouldn't be in her position. However I am more interested in the ideas and solutions, rather than the person. There have been small scale experiments with "socialist" regulations which have actually been very successful from: universal healthcare, rental control, and basic income. I personally don't care about communism, capitalism, or any other "label" people use. I care about the real-life tangible solutions. We should look at the world stage, and learn from the successes (and failures) of other nations, systems, and people's.

[@ge2719]

@@ekinteko so your argument is not that rent control is good, your argument is that rent control makes this worse, but what also makes it worse is corruption among the rich and politicians. So stossel isnt wrong. he could just also do a video on what else is damaging the housing market on top of rent control. because as much as you would like to think rent control is a way to solve the problem youre talking about. its not, for all the reasons jon talks about, which you have not disproven a single thing he mentioned. youve only pointed to other issues. Rent control will never be a valid solution to the problem.

[@zuko9085]

And to make building happen, we need to dramatically cut back on all the red tape for building a house or building. It is a nightmare. I'm not even allowed to do renovations of my house without city permits, that is crazy!

[@Razor-gx2dq]

We need to cut the red tape for building in general.

[@Mobus_]

I think a lot of that started because people were using asbestos insulation and lead paint, neither of which is a problem today but they still like to get their fee for checking in on you.

[@geoffmead4581]

I respect her for interviewing. If she truly wants to advocate for the most cost effective housing, maximizing choice for people, and ensuring quality and good service she’ll do her due diligence. Rent control is like a tornado that doesn’t reveal the destruction it causes until many months, even years down the road.

[@Braddicusfinch]

Respect to the councilwoman for stepping up to speak, but essentially saying "I don't care, I'll stick to what I think regardless" whilst having this dismissive air as if to say "How dare you voice criticism" is a BAAAAD look. Too often, it's "I think this SO" not "I think this BECAUSE"

[@mae2759]

The good response to these socialist types is "Look, I know your heart is in the right place and you're trying to help and you care. But these policies are destructive and do the opposite of what you're trying to accomplish."

[@ItsJustMe0585]

The other massive problem with rent control, is it actually skyrockets rent prices. If your landlord has to guess how long a tenant will be around, then as soon as one leaves, they will jack up the rent on the next tenant with the assumption they may be there for years. This happened to me when I was living in the Bay Area. If cities wanted to fix the issue of rent, they would 1: attack financial investors that buy up full areas then jack up mortgages and rent in them, 2: tax non-local investors that use these properties as tax havens from their own countries, 3: reduce the cost of permits, and number of permits needed to build, 4: give massive property tax breaks to new builds to incentivize builders to come in and compete.

[@robertward5368]

The real problem, according to some voices from various points on the political spectrum, is zoning. Neither rent control nor the market will result in enough affordable housing if zoning is so restrictive that there is no place in a city where the needed housing is allowed to be built at all.

[@leog7688]

Unfortunately they don't build new housings for low income people. New York City has thousands of new buildings a studio apartment goes for $2000 a month.

[@whousa642]

Who are they?

[@_P_M_]

Low income don't move into new buildings, high income do. The old buildings become more affordable due to competition from new buildings and the low income move there.

[@johnsudlow5088]

"Thousands" of new buildings?

[@eetutiiro4808]

new cars are rarely affordable, same applies to houses but its hard to understand if your career depends on you not understanding it

[@jeryljoseph1]

Isn't that because zoning laws make it too expensive to build housing units for the poor? Ik that's a thing in LA

[@schwartd]

We need less demand, not more supply. Need to discourage overseas "investors" from driving up rent prices.

[@zaskarclf]

It's always immediate gratification vs Delayed Gratification. Shocker that most adults haven't grown up and just want things NOW...me me me!

[@IMRROcom]

As a Landlord under rent control, I will increase rent to the max level I can every year. On the other hand if I can control rent to what the market shows, I will let rent stand for years at a time. But under rent control, I will never let my self get locked into a low market value on my rent, so I will increase rent to the max every year.

[@mph5896]

Ah, you just go to a different area that doesn't have those games to play.

[@KC2ATE]

Agreed. As a landlord also I will often not raise the rents for several years usually waiting until someone moves out and then adjusting. But yeah if I was under rent control I would be doing the same thing.

[@josealexi5141]

@@mph5896 : you can't just pack up the house/building and move it to the next county/state.

[@mph5896]

@@josealexi5141 You are correct, BUT you sell it or don't buy it.

[@philipgerry5228]

I’m a landlord and charge under market by not increasing with market increases. Lower turnover, less expenses.

[@Karynthian]

I live in NYC. In lower Manhattan, it's been pretty much a ghost town for the past 18 months because property owners are refusing to lower their prices to meet demand, so they're holding their properties waiting for a bubble to burst. This is something I would really love for Stossel to look into and compare with his findings here.

[@JohannSbs]

Maybe they are afraid of lowering their prices and then get hit with rent control laws.

[@onenikkione]

the market will eventually correct

[@sstrange1973]

Or you discovered money laundering property owners... Lower Manhattan sounds like the perfect place to buy property above market value and hold long enough to not raise suspicion then sale to create clean cash.

[@Karynthian]

@@sstrange1973 no it's mostly commercial buildings that closed down at the start of covid and never reopened, but the property owners are rejecting offers.

[@shastapearce5652]

Companies should NOT own single family homes.

[@zetagundam20x]

“We don’t need more studies” is terrible statement. People will only ever learn when they see it for themselves. History repeats itself

[@zetagundam20x]

@Ben Dover true. Seeing guys like Stalin and Mao were very ignorant on what was going on with their plans for industrialization. Once they died, things changed

[@plmn93]

I can't ever imagine advocating for ignorance and being proud of it.

[@MarekBobosik]

No worries they will get what they voted for...Karma is a bitch

[@fren111]

this is post-modern education, "mah lived experiences, ak/feelings, are more important than reality"

[@jonson856]

She is right though. The evidence is conclusive. Any more studies would be redundant. What she meant, however, was that she doesnt care about the science xD

[@deecee784]

Mt. Stossel forgot one thing. In my city, about five years after rent control, landlords started turning their apartment blocks into Condos --- taking supply off the market. It got so ridiculous that well paid professionals such as Doctors couldn't find a decent place to rent ---- so they didn't move in to my city. After all, who wants to try out a job in a new city if the first thing you have to do is buy a house there ..... and then hope the job works out?

[@gunnss11]

Welcome to Seattle.

[@SeraphsWitness]

That's what happens when you make apartment building more prohibitive than home building... buying actually becomes cheaper than renting. Kind of insane.

[@mrg7405]

Non-American here- what is a condo and how is it different to an apartment?

[@mae2759]

@@mrg7405 You typically own a condo. They're in similar apartment style buildings, but the unit is yours much like a house would be. You can remodel and do what you want with the place, although typically each building has an Homeowner's Association (HOA) with rules you have to follow.

[@ehb002]

@@mrg7405 You rent an apartment. You own a condo.

[@glennwatson3313]

Good lord, that councilwoman! My God how can she exist. How does she live with herself.

[@jimhasanenterprise8763]

Last month I successfully argued against rent control in my local FB group to the point that the woman advocating for it changed her mind. Funniest part was when she admitted her parents and grandparents are landlords.

[@donmiller2908]

I have a friend that rents. For whatever reason he was unable to afford to buy a house during the period in his life in which he was employed. Now he's retired and on a fixed income, yet his apartment complex raises the rent every year, year after year. What is he supposed to do when his rent exceeds his income?

[@MorphingReality]

@@donmiller2908 The Stossel answer is essentially to move. In any case, more than a fifth of American renters spend at least 50% of their income on rent, that is almost 10x more than are affected by rent control. According to iPropertyManagement, 0.11% of rental homes are rent-controlled.

[@jimhasanenterprise8763]

@Vinay A Thank you and lol not very often anymore. In this case the person didn't really understand what she was advocating. I was a little proud of myself for making the case against it clearly without having to rely on videos like this from John.

[@gregcarlson8438]

@@donmiller2908 he should move to a cheaper place or city and serve as a warning to others to not be so irresponsible.

[@WanderingExistence]

CONGRATULATIONS! Let's give this FB keyboard warrior a medal and a round of applause. The funniest part is that you don't understand how an individual's situation might be different from their parents and grandparents.... Almost like we shouldn't use identity politics, oh, yeah 🤦

[@theherrdark4834]

In NYC in the 70s developers didn't build apartment buildings, they built parking garages and ended up making more money with less expense. Others built office buildings and storage facilities, all made more money and less expense than housing.

[@robertkartechner5850]

On the other hand, rent goes up 700$ a month and wages go up maybe 80$ a month . . . . hmmm, maybe that's why there are getting to be more and more tent cities. If you can't afford the rent, then you live on the street or in your car.

[@cainabel615]

You just KNOW that female city council member wanted to say, “REal SoCiAlism waS never TriED!!🥴”

[@jeremyjones8303]

A big point you missed is why rent is going up. A lot of people moving around, a lot of inflation, and not many people going into trades causing slower development. Zoning is an issue. Renting regulations can be an issue. All of these have been influenced if not controlled by government.

[@Redmanticore]

you would instantly have people going into trades if you let the south americans in and let them register as usa citizens.

[@zeldaharris6876]

@@Redmanticore you have plenty of unemployed Americans that can learn a trade.

[@MorphingReality]

1% of US cities have rent control (6 of the 50 largest), most of them are in 3 states. 23% of American renters spend more than 50% of their income on rent.

[@Boris80b]

Yep

[@echko_9]

Why anyone wants MORE government involvement in their lives is beyond me. The government is far too incompetent to succeed at anything. As the saying go's, there is nothing scarier than the words "I am from the government and I am here to help.

[@WanderingExistence]

Do you want to work 16 hr days, 6 days a week for a small hourly wage? No? Because there are labor laws that prevent that. Go back to 1822, you knuckledragger. PS, that Reagan quote is really funny considering he pushed the war on drugs AND helped trade guns for drugs to help fund the Contras. Moral of the story; people who say they want small government usually want big government to enforce their morals or finances on others. Libertarians like the Koch brothers and Peter Thiel are prime examples of modern small government chatterboxes that lobby for laws and pull subsidies.

[@jmiller1458]

Living in "affordable" i.e. HUD. state controlled housing was the most terrifying experience of my life. Id rather be homeless than do that again.

[@bonnienedza55]

I think, there is a small group of people, causing all of this racket & wanting government interference...BUT they are very loud

[@jenmolly8794]

Always felt alone and weirdo to even question anything “they “ tell you. Thank you for bringing realistic ideas and facts

[@empirestate8791]

Upzone and build more homes please!!! Rent control won't solve the housing shortage. Only more supply will. Cities across the US have very restrictive zoning & development rules, and NIMBYism is a huge problem. We should legalize mid-rise buildings everywhere by right, get rid of permitting fees, and reform occupational licensing to boost the construction industry.

[@TheJeep1967]

Her answer to "where has socialism ever worked?" was "I'm doing a just fine job of representing my community" That is the response of someone who hasn't given any thought to whether what they propose would actually help her community.

[@jeremytalbot8915]

Nah, that's projection and does not make any sense. Logic and reasoning are not on a timer.

[@1ex1uger-prank-calls]

Here are some remedies for high housing costs: - reform zoning laws to allow for mixed-use buildings in neighborhoods - build more apartment buildings; there are too many single-family homes being built, and not nearly enough studio or single bedroom apartments for people who are starting out or just want to live as minimalists - do not allow foreigners who have zero ties to the country to buy up the property there, pricing locals who are not laundering money of their local housing market

[@catherinegarmon3027]

Also, perhaps something like only letting owner occupants buy a property the first 10 days it's on the market (or something to that effect) so that investors can't swoop in immediately.

[@1ex1uger-prank-calls]

@@escapedfromnewyork I didn't say stop building single family homes. I said there should be more options for people. Families are smaller and fewer children are being born compared to the past. If you want to live in a huge house as a single person, go ahead. A lot of people don't have that kind of money to burn and want more options.

[@kingchddg90]

@@1ex1uger-prank-calls issues come from too many apartments as it drives up single family housing and of course when you can build 16 homes on the land for 2 or 3 why not as a rent setup its just more money.

[@1ex1uger-prank-calls]

@@kingchddg90 Having too much of anything can have negative impacts on competing options. There is already a severe imbalance skewed in favor of single faming homes at a time when families are smaller than ever and a lot of people just need affordable housing - not entire homes that would result in them paying for way more space than they need.

[@misterhatley5894]

Rent doesn't go down anywhere for any reason.

[@dunny2210]

My property tax went up by 20% this year in NYC. And this happens year after year and is also a cause of rent increase.

[@kommisar.]

But the mayor will keep insisting what a great city it is and tell you not to move to Florida because they hate LGBT people.

[@robertewalt7789]

NYC has had rent control since WW2.

[@kommisar.]

@@robertewalt7789 And look at its results.

[@againstthegrain3664]

This is the problem. You can’t have rent control with high property and real estate taxes. And you can’t have free market capitalism in housing with high taxes either. They have to eliminate or lower drastically these taxes. Then you don’t need rent control

[@kingchddg90]

I mostly agree but there is a flipside. if property taxes dropped to 0% tomorrow i doubt a single landlord would drop rent a penny. real estate is almost a guaranteed profit if you wait. i can see setting reasonable limits on rent increases for people currently under contract but not for renewals

[@paulyisgoingagainstthegrai2952]

@@kingchddg90 yeah. That is not true. The free market would take control and through competition rent would go down. Maybe not the month after taxes are eliminated. But definitely within the year. The market needs time to correct itself. And as for profit. If you’re a small landlord in nyc where I am. Profit is non existent when you take into consideration taxes. Regulations. Hiring employees to take care of the building etc. only large development corporations can make money now. And that’s because they steal tax payer money.

[@beemo9]

Which major cities without rent control have cheap rent? Deregulation wouldn't lead to low rent in major markets, because, like you said, developers won't build if rent is cheap. Rent will always be high there, unless the gov't intervenes.

[@wojtek9675]

If rent is cheap then housing is in great supply. That means the government has stopped all their stupid zoning laws that prevent businesses from building housing. Except, that won’t happen

[@thinkinggamer701]

When politicians raise property tax, the cost of owning property goes up. If a landlord cannot make enough money to break even, they cannot afford to keep the units in their current conditions. This leads to a cut in investment in the property to minimize loss. When all else fails, burn the place to the ground and collect insurance. At least the landlord can get some of their investment back.

[@Pube83]

And possibly murder tenants?

[@thinkinggamer701]

@@Pube83 do you think they care?

[@Vv_JASPER_vV]

The only way to beat a landlord's greed is to open the way for other greedy landlords to compete. Let more apartments and taller buildings get built. It's not a perfect solution but it works a lot of the time.

[@dicktillotson1431]

I guess another way to “beat the landlords greed”, would be to make a law that nobody can rent out homes!!! That way everyone can build their own house, and build it to the size and condition they can afford. Nobody to blame, wouldn’t that be nice?!

[@themonsterunderyourbed9408]

Nah, the few companies that operate large scale apartment renting will all get together and set the prices.

[@ravenone6255]

I made the mistake of thinking rent control is good so it could be affordable for people who don't make much money.

[@rptube16]

@@themonsterunderyourbed9408 Isn't that already illegal?

[@workingshlub8861]

are you greedy when you want a raise at your job??

[@Music-pq8cm]

Bottom line … we have a two-part issue … there are not enough jobs in the US and our education system sucks.

[@JesusPresley...]

John Stossel is a LEGEND! Thank you Sir.

[@rufusmacck3712]

The true solution is to reduce the size of government and concurrently reduce the taxes proportionally. Sales taxes in particular harm lower income groups (as a portion of their disposable income).

[@smokedbrisket3033]

That's what the astute, corrupt pols are deathly afraid of - the masses waking up and realizing that everything those pols do makes their lives that much harder. The cost of government at all levels falls heaviest on the shoulders of the poor, relative to their income.

[@Monkesmell91]

The government is like a fat kid; Idiots think make him smaller you limit him to eating certain foods but he will exploit those foods and grow bigger. The only true way is to give him nothing and have his body itself till it cannot maintain itself.

[@larryspiller6633]

Had a rental before. Trust me, there wasn't any money to be made after insurance, taxes and repairs. Depending on the tenant, you might break even. If there is any profit, you'd better keep it for repairs,

[@VortexStriker]

I believe the reason behind people pushing for rent control is to create a crisis that can be blamed on capitalism and only be solved by government becoming the landlords. Seems a common tactic for many issues.

[@bogdan78pop]

In Chicago at one time , the government was a big landlord, with brand new buildings , with cheap rent or section 8.....well they learned their lessons , and by the 80's , they tear down all of them, and never build something new since...!!!!!!!

[@VortexStriker]

@@bogdan78pop by government, I mean private contractors who will win bids by who is best friends with a senator. The government itself learned it can't manage a business.

[@strayedarticle2838]

the crisis already happened

[@workplacewarriordoctorpepp203]

@@VortexStriker and they cant manage because of affirmative action and a woke mentality . also throw in the unwillingness to fire workers who cannot do their job. look who they hire.

[@chrisbaker2669]

I think many people don't understand the economics of rent control.

[@weirdyoda04]

As a landlord I can say with certainty I cannot just “just jack up rent whenever I feel like it”

[@Pube83]

So...you don't raise the rent yearly by the maximum allowed by law?

[@weirdyoda04]

@@Pube83 No sir, it’s expensive to get new tenants in so you want to keep the old ones even if it’s at a slightly lower rate than the market. I had to raise the rent ($50/mo) for the first time in 4 years because property taxes went up by several hundred dollars.

[@Redmanticore]

there are different landlords with varying thoughts about the subject. some keep rents and rent raises at very moderate levels, in hopes of keeping the same renter for decades. some want to increase the rent yearly as much as possible. even if their place would sometimes go empty for real chunks of time between renters and even if their renters would change very often.

[@kingchddg90]

well you could but people would leave and then you go from making some money to making 0

[@weirdyoda04]

@@kingchddg90 exactly.

[@johnnyandroidbc8091]

That pause, yikes! That said, in BC, Canada - there is a rent control of 3% max per year. In the Lower Mainland (City of Vancouver and nearby cities) builders are still building but rentals are extremely expensive and availability for cheap rent is non-existant.

[@christianfarnsworth]

No mater how much we may disagree with that one girl, you gotta give her props for doing the interview even if it means she will be humiliated

[@poisonivy197222]

rent is going out of reach for most .why do you see homeless everywhere now everyday

[@whousa642]

Caused by government regulations!

[@whousa642]

@@jimhill6586 their safety net is working!!

[@kevinclause4p55p5]

When the price of wood is up 300% and gas went from $2 to $5, who can afford to build houses?

[@marknrogers]

Makes me laugh every time. Renters think that these landlords owe them a place to live, just like students think the taxpayers owe them an education, sometimes the same people. Maybe we should quit teaching socialism. 🤷‍♂️

[@josealexi5141]

Instead of rent controlled apartments, I'd rather see salary controlled universities!! These liberal professors should be paid $40,000/yr instead of $150,000/yr. Tell them their excess salary was "redistributed" to needy families.

[@dicktillotson1431]

I agree!!

[@mexicancanteen9596]

Whenever someone says "we don't need data, we need action" they're trying to hurt you

[@AlexAnder-rv1gu]

Well, I appreciated hearing a different opinion than mine. With rationality and research to back up your point. But the bigger problem is that profits do not drive low income housing - which is the real issue. Developpers don't build cheap homes in North America.

[@MegaDrew1984]

As a former landlord I'm maryland. I was lucky to have good Tennants but I had very strict credit, security and payment criteria. It was due to the fear of Tennant rights makes it near impossible to get rid of a non paying Tennant.

[@WanderingExistence]

¯\_(ツ)_/¯ tenant laws like that are what you get when you try to enforce inequality through Lording over Land. It's almost like all these libertarians who say they understand economics don't understand the law of rent, and how renting out land is rent-seeking behavior. It's like you never read Adam Smith.

[@scottslotterbeck3796]

Eviction in California takes 6 months. No rent for 6 months, but if they break a window or a stove you have to jump up and fix it pronto, or the city will fine you thousands. Sacramento is a shit hole. Steinberg slums (homeless) everywhere.