It seems that many landlords here in the Silicon Valley are taking advantage of the robust and vibrant job market and its generally higher incomes by increasing their rents too. In San Jose, the largest and the most populous city in the Silicon Valley, rents are up 13% as of March of this year with an average rent of $2,230. So it comes as no surprise that many renters are upset and some, particularly in San Jose, are screaming for rent control. It is a touchy, hot-button issue here and everywhere it has been implemented such as San Francisco and New York City. And many economist agree that rent control is bad for renters and does little to provide more low cost housing to those on making less than the median income and fixed incomes like senior citizens.Anyhow, I found a great video that Very clearly explains the the ins and outs of rent control and why it is a bad idea. Use it the next time you have an ignorant co-worker or family member who is arguing with you about why a city should have it.
Related:
Renters, apartment owner square off over San Jose rent controlSpike in San Jose Housing Costs Spurs Council Rent Control Plans
No comments:
Post a Comment