Josh Sigurdson talks with author and economic analyst John Sneisen about the desperate move by the Oregonian government to implement rent control. Oregon would be the first state to implement state-wide rent control.
SB 608, the legislation in question is likely to go into affect in the coming months (as both chambers of the legislature are Democrat supermajorities). It would stop landlords from raising the rent in the first year of tenancy.
Future rent hikes would also be capped at 7%.
This is what leads to slum lords. This is what leads to low quality garbage apartments. It’s the state attempting to further infringe the property rights of the landlords by giving them no incentive to improve the space their renters are living in.
This is caused in the first place by governments and banks. The vast printing of currency leads to the price of living skyrocketing. Inflation hits people where it hurts the most. In the wallet. On top of that, the ridiculous amount of regulations and taxes lead to owners attempting to do cash flow making very little profit. They then try to renovate and improve the place and they’re hit with rent control. This is an absolute sham of an idea. This comes as governments are desperate to stop the housing markets across the country from inevitably crashing as we see loans build up on top of loans and markets hit their peaks.
A dangerous game is being played here and the people unwittingly are hurt the most while stunned, under the belief that the state is there to help them and make things better for them. The state and banking system are creating the problems essentially and then coming in as the hero to save the day… By creating more problems… How convenient.