From: Erik Aronesty (erik@zoneedit.com)
Date: Tue Oct 28 2003 - 06:57:24 MST
Yep, rent control is just another example of the majority (poor, young) justifiably restricting the ability of a minority (landlords) to profit excessivle from what is arguably a public resource (land).
Not once in the history of New York's rent control laws have landlords decided to sell buildings at cut rates. Why? Because the real impact of rent control is preventing wealthy landlords from getting even wealthier at the expense of the local population.
It also helps prevent "boom and bust" cycles. Following gentrification, there is generally a mass exodus from an area...which is what happened in Dallas.
What makes an area popular in cities is the young people, artists, and the diversity...
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