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L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
(www.latimes.com)
this post was submitted on 09 Jun 2024
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Unfortunately, I think you're right. What is the solution to outrageous rent that doesn't involve the government providing more rent subsidies that simply funnel public money into the hands of property owners? That solution encourages property owners to raise rent because the government will increase subsidies to cover the difference.
The problem is the government makes it too hard and expensive to build anything. People dont realize this but on average the government adds over $100k per single family house that is built. As a person that is in housing, my number one issue is with the government, and they only make it worse. So the solution is to greatly reduce the amount the government is involved in the creation of new housing.
You mean like safety regulations? I hear this same shit from sales all the time complaining about factory of safety in design. “I told the customer it would only be $X, and now it’s so much more!”
No
No, and...?
I'm genuinely interested in how government involvement increases the cost. I honestly don't know. Like, is it dealing with zoning and permitting? I hope my good-faith intent is coming through here, I'm not just trying to bait an argument.
Sure, if you are actually interested I can give you some basic examples. Lets take a look at some of the site details for a new build. Need to remove X yards of dirt - may require an engineer report. Ever see 100 yards of sidewalk/curb/gutter in the middle of no where - city requriement that will add $15k just for the concrete, let alone what you would need for retaining walls if there is a slope. If there is a mild slope to the lot - may need a different engineering report. Big developement - they will require land set aside that cant be developed for a wide varieties of things.