Abstract
Rent control was first imposed in the United States as a response to the difficulties faced during wartime (Jenkins, 2009). The primary goal was to create affordable housing and prevent profiteering by property owners who sought to take advantage of “the extreme market pressures”(Jenkins, 2009, p.74). During the 1950’s, a removal of rent control ensued; the 1970’s experienced a resurgence of rent control in California, New Jersey, New York, Massachusetts, and several other northeast states (Jenkins, 2009). This resurgence is primarily due to a desire to create rules thought to promote “the collective well-being of the larger community,” while ensuring disadvantage members of society have access to basic resources (Bray 2012, p.1110). This essay explorers the several factors, that exist detailing why economist have been vehemently opposed to rent control, and an ethical view of this dilemma from a Christian perspective.
Regulatory Takings One reason economist are not in favor of rent controls/rent stabilization is the unduly burden placed on property owners, which unfairly deprives them of market rate …show more content…
Rent control, Jenkins (2009) suggest is theoretically ambiguous when essential features of rent control ordinances are considered. One thing to consider is self-maintenance; since the responsibility of upkeep lies with both the tenant and the landlord, the tenant’s assistance “often partially offsets a landlords neglect” (Jenkins, 2009, p.80). Moon and Stotsky hypothesized that long term tenants often engage in self-maintenance, which can often compensate for any under maintenance on the part of the landlord (Jenkins, 2009). Glaeser (2002) theorizes that even second generation rent control creates strong disincentives for quality provision when the unit is occupied (Jenkins, 2009,
Rent control was first imposed in the United States as a response to the difficulties faced during wartime (Jenkins, 2009). The primary goal was to create affordable housing and prevent profiteering by property owners who sought to take advantage of “the extreme market pressures”(Jenkins, 2009, p.74). During the 1950’s, a removal of rent control ensued; the 1970’s experienced a resurgence of rent control in California, New Jersey, New York, Massachusetts, and several other northeast states (Jenkins, 2009). This resurgence is primarily due to a desire to create rules thought to promote “the collective well-being of the larger community,” while ensuring disadvantage members of society have access to basic resources (Bray 2012, p.1110). This essay explorers the several factors, that exist detailing why economist have been vehemently opposed to rent control, and an ethical view of this dilemma from a Christian perspective.
Regulatory Takings One reason economist are not in favor of rent controls/rent stabilization is the unduly burden placed on property owners, which unfairly deprives them of market rate …show more content…
Rent control, Jenkins (2009) suggest is theoretically ambiguous when essential features of rent control ordinances are considered. One thing to consider is self-maintenance; since the responsibility of upkeep lies with both the tenant and the landlord, the tenant’s assistance “often partially offsets a landlords neglect” (Jenkins, 2009, p.80). Moon and Stotsky hypothesized that long term tenants often engage in self-maintenance, which can often compensate for any under maintenance on the part of the landlord (Jenkins, 2009). Glaeser (2002) theorizes that even second generation rent control creates strong disincentives for quality provision when the unit is occupied (Jenkins, 2009,