Rent control is most regressive and anticonsumer.
Rent control results in very few properties being rented out - and has the paradoxical effect of increasing the cost of renting because of massive undersupply of rental property. It also results in either pughreee system (Bombay) for which a massive upfront payment is needed to rent or with gundagiri for evictions (seen in Bombay and in Delhi unauthorised constructions).
Dharavi has its origin in rent control - without rent control, the massive slums would have been apartment blocks like in US and European cities. Because of rent control, it became a slum.
Rent control means you are forced to buy - because you cannot rent anything because of undersupply - and if there is so much demand to buy, prices shoot up. Bombay is a prime example of such massive flat prices, higher than Manhattan. Did you not see Gharonda? If you are from a new generation, please do see it.
So rent control has the opposite effect in a double whammy - it increases rent and it increases flat prices.
Only beneficiaries of rent control are goondas/politicians running tenements and crooked builders - and their political cronies who manipulate zoning laws, land ceiling acts and circle rates.
Best way to lower rent and apartment cost is through competition and oversupply. Build roads and new townships with good number of flats (with electiricity , water and transport unlike disasters like Narela) - and rent will come down automatically. So will flat prices.
Rent control results in very few properties being rented out - and has the paradoxical effect of increasing the cost of renting because of massive undersupply of rental property. It also results in either pughreee system (Bombay) for which a massive upfront payment is needed to rent or with gundagiri for evictions (seen in Bombay and in Delhi unauthorised constructions).
Dharavi has its origin in rent control - without rent control, the massive slums would have been apartment blocks like in US and European cities. Because of rent control, it became a slum.
Rent control means you are forced to buy - because you cannot rent anything because of undersupply - and if there is so much demand to buy, prices shoot up. Bombay is a prime example of such massive flat prices, higher than Manhattan. Did you not see Gharonda? If you are from a new generation, please do see it.
So rent control has the opposite effect in a double whammy - it increases rent and it increases flat prices.
Only beneficiaries of rent control are goondas/politicians running tenements and crooked builders - and their political cronies who manipulate zoning laws, land ceiling acts and circle rates.
Best way to lower rent and apartment cost is through competition and oversupply. Build roads and new townships with good number of flats (with electiricity , water and transport unlike disasters like Narela) - and rent will come down automatically. So will flat prices.
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