Will The Supreme Court End New York's Rent Control Laws?

[RocketmanRockyMatrix]

New York City is already overpopulated. Do we really need more people in New York City? Move to upstate New York. Rent is a lot cheaper upstate.

[CaliforniaArchitect]

Price controls eventually limit supply and force consumers to look for alternatives. In the case of rent control, there is no incentive to build new apartments unless new construction is exempt. Older buildings under rent control are not maintaned as well because the landlord cannot recoup maintenance costs.

Finally, in a free market, landlords compete against each other to keep the prices fair. The free market works!

[AtibbsSPARTAN]

This is why BIG GOVERNMENT sucks! There are so many stupid heavy handed policies out there that won't go away because a small group of people benefit immensely, while costs are invisible enough to keep Americans in their usual apathetic state.

The military industrial complex, farm subsidies and cash for clunkers are just a few examples.

[elbuggo]

Thou shalt not steal.

[fishblades]

Rent Controls... good Lord I had no idea such a thing still existed. This is the reason why people are leaving NY in droves.

It's common sense why this is a bad idea. The argument for Rent controls is the typical emotional garbage of vulnerable people being taken advantage of by rich landlords and/or helping the poor.

[linagee]

High rents would send people running out of the city instead going to cheaper places to live in. But why shouldn't this happen?

[ThorsMjollnir0341]

I would be shocked if SCOTUS holds rent control unconstitutional.

[yakyakyak69]

Property RIGHTS are just that... RIGHTS!

[RobTzu]

Excellent piece.

[vonGleichenT]

I wish I would own a couple of houses.

[nemo227]

@vonGleichenT You can own a couple of houses. At your age, an accountant, living in the USA (according to your profile).......many people with less have done it. I did. And I know personally of an immigrant who came here with $50 who owns his own business, his own home, put his two boys through college. Start small and grow. It's being done by people all around you.

[beta447]

Because if people are homeless, it's their own fault and we shouldn't pay attention to their problems. I don't even know why I subscribe to this channel.

[C6BD]

@beta447 In the Democratic People's Republic of Korea there are no homeless people because housing is free. Houses and appartments are built by the State and given to the people for free. In socialism, everything is free.

[dlstb]

@C6BD "In socialism, everything is free." Are you fucking kidding me? Do you really think that human labor can be had for nothing? If you do then you are a proponent of slavery or at least indentured servitude. In socialism, they take from everyone everything and then they give you back what you are able to prove that you require to live. It doesn't allow the individual the freedom and respect of owning their OWN labor. It is slavery.

[C6BD]

@dlstb You are mistaken Comrade dlstb. There is no slavery in the DPRK since it is a democratic people's republic. In the DPRK all the comrades help and lead each other to greater success in building the utopian motherland of socialism with a human face where the politically conscious worker is truly liberated. There is no slavery since the Constitution of the DPRK does not promote slavery. The constitution of the USA however do promote slavery. Therefore in socialism there is no slavery.

[dlstb]

@C6BD In case you missed it, the Constitution FORBIDS slavery thanks to the amendment process. Also, the Constitution has a little know bit of wording that puts a date upon which the importation of slaves could be halted through congressional means. Please also keep in mind that this document was written in the 1700's while North Korea was not formally established until the 1940's. You are a joke.

[kwazadilla]

@beta447 our government as envisioned and originally designed, is not for fixing problems, it is for defending individual liberty and property.

helping people is required of us, not the government.

[garybrownfie]

If a landlord can't make money on his investment he will not make upgrades or for that matter even make needed repairs. This is where slums get there start.

[garybrownfie]

Can I lobby to get everything for free? As long as the government will pay for my time and expenses while I am lobbying I will be glad to do it. Not! I've got more substance than that.

[MortimerTheClueless]

Rent control protects the little guy from greed. Having a place to live, to call home, is a basic human right. It is amazing that rent control laws still exist, now that our government is totally taken over by the corporate right. Without rent control, the rich would own every house and apartment, and most people would be turned into serfs.

[garybrownfie]

@MortimerTheClueless There is no "right" to a home or any other physical items. The only things you have a right to are; life, liberty and the pursuit of happiness. It's the same with health care, education, means of travel or luxuries of life.

[PissedFechtmeister]

@MortimerTheClueless Without rent control the greedy landlords would charge so much for their apartments that no one would be able to afford to live there. Sadly, liberals believe this.

[Loathomar]

I can understand rent countol in one way, and that is controlling the amount renters can increase the amount of rent anyone pays over a given time. So, if I live somewhere my renter can only increase my rent by no more then 5% a year, the reason I can understand this is it protects renters from allow the owners from increase that, I as a renter should not be paying, but will pay because moving is a pain. But no increases or controlling the new rent is insane.

[jakebwallace]

Get a new narrator please.

[BH206L3]

But I would bet that rent controlled Buildings, the owners get hit with full boat property taxes that pretty much double every 10 to 15 years. Never mind about up keep and heat.

[nemo227]

@BH206L3 Most likely. Government has an appetite for more and more revenue; taxes, fees, more taxes, more fees. A commercial business will constantly look for ways to reduce expenses (reducing expenses immediately increases the bottom line). California's sales tax went from 3% (1949) to over 10%(2011-in some counties) even though the state economy got hugely bigger.

[healthhavencom]

It takes less than half a brain to understand that rent control is a terrible idea.

Now you understand why politicians support it.

[nemo227]

@healthhavencom You've explained it nicely.

[UTubekookdetector]

Didn't Sowell debunk the stupidity of rent control schemes several years ago in "Basic Economics"? Too bad the pols aren't listening to sound advice.

[nemo227]

@UTubekookdetector  Sowell is smarter than any 500 members of the government.

[MrJigssaw1989]

@nemo227 combined.

[UTubekookdetector]

NEMO: Agreed.

[CaptainLazerus]

The narrator sounds like the guy who narrated the honey badger vid. Honey Badger don't care about rent controls.

watch?v=4r7wHMg5Yjg

[CurtHowland]

I also recommend Murray Rothbard's work on this subject.

[CurtHowland]

Inflation makes rent control insane.

[whoo689]

The only alternative (if you got rid of rent control) to help low-income folks afford housing who can't find better jobs would be to give them some kind of voucher, I guess. But libertarians usually don't like 'handouts', now do they?

[bluefootedpig]

@whoo689 or have them live with other people. If you cannot afford an apartment, then you room with someone. This answer is arrived out simply by asking yourself one question, how many sq ft is one entitle too? Should rent for low income people only contain 300 sq ft? or should they all have at least 600 sq ft? I have seen both for low income housing.

[malcolmxray]

@whoo689 Getting rid of rent control will result in a greater supply of rental housing, so rents become lower, and therefore more affordable for low-income folks. At least, that's what virtually every economist says.

[whoo689]

I'd like to see a middle ground here: limited rent control but still not enough to where it massively stifles new apartment and home creation. Something that helps low-income folks still afford housing while not hindering the supply

Those who just say, "Throw off the shackles and get rid of rent control altogether" are mad. Yes, it will increase the SUPPLY but how will it guarantee low-enough prices for a lot of those who actually WANT the apartments?

[usaeagle1776]

wow, no wonder they have such a flight of people and business's leaving those states!! freaking libturds are in control of those states and the taxes are outrageous! typical libturd bullshit.

[ENDtheFED2012]

@usaeagle1776

The taxes are crazy here in NYC. We pay federal tax, State tax and a city tax and now the city is broke so they are giving out tickets and fines every chance they get.

Rents are insane here as well.

[usaeagle1776]

@ENDtheFED2012 : I feel for you man. Dont know how anyone can survive there.

[uzimodem]

California,and then New York State are the highest taxed states in the union. amazing.

[ForTehNguyen]

with the prices fixed so low it destroys the supply of rent property and rockets the price as a result. Developers do not want to build property when the rent they can charge is kept so artificially low. Renters cant find squat to rent unless they pay out the ass for non rent control property. The supply of rental property is cut far short due to price controls

Gotta love govt

[ForTehNguyen]

price controls always create shortages, in this case it created a shortage of rent property

[chevydriver1123]

Its not just the city, all of New York state has it and it sucks. Rent wouldnt be as high as it is without the idiots in Albany (state capital) butting in.

[CylonNumber2]

Rent Control was the number one reason I left New York when I tried moving there, living there for six months. I was renting a room for $1500 dolars a month from a guy who had miserably lived all his live in his two bed room apartment and was only paying $50 a month. He couldn't leave his apartment or his 50 year old lease would terminate. The original landlord of the apartment could only hope he would die soon.

[humanhiveanomaly]

A monopolized court funded by the state uphold property rights at the cost of political suicide? Forgive me for showing some pessimism.

[samkurz]

This man must be a sleazy landlord attorney. There not telling you about the middleclass,

poor and disabled. Obviously a republican who wants to kick Americans out of their homes

and jobs. He's an asshole.

[jwka2001]

wow yet another reason new york state/city is one of the worst places to live in

[uzimodem]

@jwka2001 :no doubt.they love to arrest tourists who have guns dont they?

[jwka2001]

@uzimodem its pretty much impossible for them to even own guns,, just like Chicago...it always seems that the bigger the crime is, the less they allow the people to own guns... new york state is killing itself i think the way it runs itself

[uzimodem]

@jwka2001 gun control advocates know that they cannot affect or control the criminals from getting guns.but they can try it with law abiding citizens. they are easier to control. I depise people who say that crime is up because of guns.yeah,because the criminals have the guns!!! Not the people who obey the law!!! fucking pathetic.

[nemo227]

@uzimodem You got it; "We're from the government and we're here to help you" NOT!

[uzimodem]

@jwka2001 so true.

[Krifko]

"Short of bombing it is the worst thing one can do to destroy public housing", and then he proceeds to give zero examples of why rent control is damaging... Right.

[mtanousable]

@Krifko It creates shortages, because higher prices are not available to induce people to meet demand by renting out their buildings. Further, rent control prevents prices from rising to keep pace with inflation and higher maintenance costs, which eventually drives those landlords that do rent out (often because they are forced to) into selling/destroying the property or going bankrupt - and most times no one will buy a rent-controlled apartment building, so it is destroyed instead.

[cooljj82]

@Krifko must have went over your head, he gave several reasons.

[Krifko]

@cooljj82 Nope, he didn't. He gave several supposed consequences. He never stated HOW rent control causes this. At the end of the video he actually admits that it is hard to establish the consequences of rent control.That is the problem with you ideologues, some guy comes and reiterates some preconceived notions among libertarians and everyone nods their head. I am interested in the truth. I am not one of those people who craves for an ideology to blindly follow.

[winiata11]

@Krifko

ill explain it to you, it's actually the simplest and most destructive distortion of supply and demand, they keep the prices artificially low so what ends up happening as an unintended consequence is that there is a shortage of housing because the price is below equilibrium. and guess which portion this hurts the most...poor people because there ends up not enough houses to go around.

[zdrux]

@Krifko Why would a developer want to build in that area knowing he cannot make profit on rent? This brings the number of renting places down, limiting choice and guaranteeing no more places to live with appear in that area. Opposite of the mandated "making it easy for people to live".

[BillyJoe1305]

@Snowman0147 There are 2 short answers as to why. The first is that landlords eventually need more money for upkeep. 2nd rent control essentially takes half the domiciles off the market; allowing everyone else to raise their prices higher than they'd otherwise be. The idea is that without rent control the housing prices will exist in more of a middle ground. Yet with any such move initial fallout will occur so they'll yell about how big a mistake we made & go backwards before we see the benefits

[kevink07950]

Damarak, if landlords could get market rates for their rental units, there would be thousands more available practically overnight, and many more than that not long after.

And Snowman - if you owned a building from which your income was artificially limited (by rent control) but your costs (heating, maintenance, insurance) were not, you might see why it's bad. What if, instead of a minimum wage, people in whatever field you work in had a *maximum* wage that was set below market limits?

[theylied1776]

If the Supreme Court even hears this case, I'd be surprised. It's going to be denied, and sent back down to a lower court. There's too much "If" and "should be" involved.

In order for the taking clause to apply they would have to show how "property was taken for public use", (without "just compensation"). If this is their entire argument, then they're gonna loss! Because, it's gonna comes down to market value of the property, to determine Just Compensation.

[damrak1969]

They can do away with rent control but they had better be prepared to spend a lot of money building new infrastructure to bring all those people into New York from the suburbs after they are forced to move out of New York. The lower and middle classes can't afford $3000 or $4000 a month for rent.

[Snowman0147]

Okay can some one explain this to me. In these tough economic times why are people trying to push millions out of homes? Can some one please explain to me why rent control is bad?

[eiffuy]

@Snowman0147 If you set the monthly rent of an apartment you own at $100 (in year one) and you spend ($90 of the rent on property taxes, repairs, improvements, insurance, etc) and then the rent is frozen at 100 dollars (by government legislation) but the cost of your expenses moves from $90 to to $110 for year two, you are now, one losing $10 a month, and, you are also not able to make as many improvements, repairs, or maintain your property.

[eiffuy]

@Snowman0147 (continuing previous comment)

Now imagine in year three your expenses move from $110 to $125, and year four from $125 to $150, and so forth, until year 7 the expenses for renting the property are now $200, and you are losing $100 dollars a month.

Imagine the conditions of the housing when this happens. Some people will take there rentals off the market, some people will do no repairs, etc etc.

[eiffuy]

@Snowman0147 (continuing, part 3, final)

This is not about pushing millions out of homes. There are many homes that are waiting to be placed on the renters market (providing that rent control is not in place) and this competition will keep rental prices cheap.

In a sentence, rent control is bad because it reduces the quality of rental units over time, offsets losses on property owners, and individuals who do not need rent control take advantage of the situation to their benefit.

[uzimodem]

why anyone would want to live in that city or state is beyond me.

[RocktheStageNYC]

@uzimodem - its "beyond" you because you think with a very narrow mind. Come live here and you'd understand why its unquestionable one of the GREATEST places to live. Its not just a bastion of Liberalism gone wild as most think. While it is overwhelmingly Democrat here, they don't rule.

I live in a rent stabilized apt. (not controlled) It allows me to raise my daughter in a neighborhood with great schools and Central Park across the street. Try that in rural Utah.

[uzimodem]

@RocktheStageNYC : "narrow mind?"huh? highest taxes in the nation....the most anti gun laws in the nation(sure doesnt hurt the ciminals does it?)most liberal state in the union, the highest rent in the country if you want to live in NYC,and you elect blowhards like Bloomberg. LOL Yeah,I will keep my "narrow Mind"elsewhere thank you. jeez

[RocktheStageNYC]

@uzimodem - 1. I have a great tax attorney so that doesn't bother me. Besides my taxes help pay for a fantastic city with LOW CRIME, amazing night life, the arts and music 2. Don't own or want to own a gun. 3. Mass and/or Oregon are more Liberal. 4. Its more expensive to live in Los Angeles (lower pay vs. the same rent prices) 5. I didn't vote for Bloomberg.

I am a hardcore Republican like yourself but you are a narrow minded one who knows not what he talks about.

[uzimodem]

@RocktheStageNYC : Hmm, you betcha!!! I would never attack a fellow conservative, and one would ever say take "people to camps and gas them." nice try. Only liberals do that. dream on boy.

[RocktheStageNYC]

@uzimodem - Never attack a fellow Conservative. Even if that Conservative has his head up his ass? Because they are aplenty. Especially here on YouTube. Ever run across a Ron Paul supporter? There you go.

[uzimodem]

@RocktheStageNYC so, you litmus test is if anyone says NYC has the second hightest taxes, puts tourists in jail because of the liberal insane gun laws, that is you test to attack someone? wow, alot of hate threre boy. you certainly sound like a libturd without a doubt.

[RocktheStageNYC]

@uzimodem - Really? that is YOUR Litmus test? If someone doesn't appreciate someone mocking the greatest city in the world , a city they have never lived or probably never even visited here - that is HATE? Hate? I think you use that word too lightly.

At least my NY education taught me to spell and punctuate.

Check my past comments on other channels about politics. I am a staunch Republican. Even fanatically Consevative on some issues against Libs and Dems.

[uzimodem]

@RocktheStageNYC aww, you are a typo expert too? wow, you will go far on youtube. I noticed quite a bit of "typo's" here with other comments, you go get that you snobbish prick. fucking northerners, always thinking they are better then eveyone else. good job on cementing that sterotype there dumbass. LOL

[RocktheStageNYC]

@uzimodem - Go far on Youtube? Why yes I have as a matter of fact. I have the 3rd most watched channel on YouTube for singers.

I don't think I'm better than anyone, not even close. I just tell it like it is. If you take that as snobbish, that says more about you than me. People disagree. Accept that and you'll be happier in life.

If you channel icon really does mean you were/are Navy - I thank you for your service. The world needs more warriors.

[uzimodem]

@RocktheStageNYC was in for 25 years. And I appreciate the comment.

[HJW81253212]

@RocktheStageNYC While i'm not a resident of Utah, i find it interesting that you refer to Utah as rural. Last time i checked Utah had at least one major city, that would be Salt Lake City. Second, in Utah there spending on education is one of the lowest in the country, however there performance is near the top. Yes you do have Central Park however, they have tremendous recreational opportunities that New Yorkers only could dream of. However ones view can be limited east of the Hudson.

[RocktheStageNYC]

@HJW81253212 - Ok rural Michigan, rural Nebraska, rural Oregon. It was just an errant example to compare a very suburban area to a more rural one. I've been to Utah. Aside from Salt Lake City, there ain't much there to do compared to NY.

NYC is the biggest city in America with the lowest crime rate. Thank you Rudy Guliani.

[clockworkorange1986]

Damage to New York? A program that helps MILLIONS of New Yorkers. Wow. This video is pathetic. Funny how no word is said on the enormous tax breaks given to owners of apartment buildings among other things.

[cooljj82]

@clockworkorange1986 No need for private property rights?

[Federalism24]

Just another example why private property rights are not really respected or upheld by our governments.