Tag: Apartment

1447: Bob Murphy – Rent Control Creates Slumlords

W1447: Bob Murphy - Rent Control Creates Slumlords
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
Normal Quality (3840×2010 134 KB)
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
Normal Quality (3073×3840 167 KB)
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy

If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down.

Under rent control, there are no market penalties for shoddy service because there is a long line of potential tenants. Thus rent control does not eliminate but rather creates “slumlords” who in a market system would have to compete to attract and retain tenants.

—Robert P. Murphy

1376: Thomas Sowell – Rent Control Laws

W1376: Thomas Sowell – Rent Control Laws
In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell
In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell
Normal Quality (3840×2010 109 KB)
In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell
Normal Quality (3840×3840 146 KB)
In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell
In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell

In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell