Even if all the tougher regs were removed tomorrow, very few builders with the large $$$ it takes to build housing are also stupid enough to risk government seizure in the future. The population will keep growing. The demand for housing will increase. The city leaders have already proven that stealing control of someone's personal asset is something they will do. (the personal asset in this case is a pre-1979 mom-and-pop rental property)
After 1979, long-term tenants moved in and the supply of rent controlled units dropped to nothing very quickly. Then what? You can't tell the entrenched 'fast movers' who got there first with the cheaper rent control units "move out and give someone else a chance."
Once a government shows a willingness to steal control of someone's personal assets, NO one who is smart enough to afford to build housing is also DUMB enough to build in rent control zones.
Only enticements get builders to build in those areas. And most builders see this:
- in Southern California there was a move to 'move the goalposts' and instead of pre-1979 rentals being rent controlled, now everything built pre-1995 would become rent controlled.
- here recently on the Peninsula the same topic came up -- re-classify candidate rental properties for rent control up to 1995.
Both of those were defeated. But it signaled to developers that the goalposts can be moved.
Until leadership stop stealing control of people's personal assets, it doesn't matter if all building code/zoning/etc. rules are removed -- very few builders will put a new project in a rent control area, where city leaders have already stolen control of personal assets.
"You like to steal control of assets that don't belong to you? I won't be building assets near you."
After 1979, long-term tenants moved in and the supply of rent controlled units dropped to nothing very quickly. Then what? You can't tell the entrenched 'fast movers' who got there first with the cheaper rent control units "move out and give someone else a chance."
Once a government shows a willingness to steal control of someone's personal assets, NO one who is smart enough to afford to build housing is also DUMB enough to build in rent control zones.
Only enticements get builders to build in those areas. And most builders see this:
- in Southern California there was a move to 'move the goalposts' and instead of pre-1979 rentals being rent controlled, now everything built pre-1995 would become rent controlled.
- here recently on the Peninsula the same topic came up -- re-classify candidate rental properties for rent control up to 1995.
Both of those were defeated. But it signaled to developers that the goalposts can be moved.
Until leadership stop stealing control of people's personal assets, it doesn't matter if all building code/zoning/etc. rules are removed -- very few builders will put a new project in a rent control area, where city leaders have already stolen control of personal assets.
"You like to steal control of assets that don't belong to you? I won't be building assets near you."
SIMPLE AS THAT.