this post was submitted on 06 Sep 2023
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The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

โ€œWe know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

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[โ€“] [email protected] 6 points 1 year ago

Jesus, I'm getting it from both ends here, somebody else is dumping on me for suggesting that a rent-control system that's a few points above inflation so that landlords could adapt to the market without abruptly bankrupting their tenants was somehow a reasonable compromise.

I'm not arguing for extreme rent-control policies, just that no rent control is bad because it lets landlords write their own eviction laws.

Peg it at like 2.5% or 5% per year above inflation and you can't use it as a sudden backdoor eviction but you also let landlords adapt to market reality over time.

Capping rents might be stupid for all the reasons economists say, but putting a damper on sudden price shifts is just being humane.