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Podcast: News For Reasonable People
Episode: LA Rent Control BACKFIRES: 4% Cap Will Drive Rents Higher (12-2 Vote)
Description: Los Angeles City Council just voted 12-2 to cap rent increases at 4% annually, and as usual, they're solving the housing crisis by... making it worse? These progressive geniuses think slapping price controls on a supply shortage will somehow make rent affordable, while completely ignoring that their own policies created the problem in the first place.We break down the economic reality behind LA's new rent control madness: how it discourages new construction, drives builders to Texas and Florida, subsidizes high-income residents, and forces landlords to defer maintenance. When it costs a million dollars per unit to build permanent supportive...