Commies gonna Commie - National Rent Control

Posted On: Thursday - February 16th 2023 8:33AM MST
In Topics: 
  Commies  California  Economics  Zhou Bai Dien

Back in early fall of the 1st year of the Kung Flu PanicFest, Peak Stupidity related some specific Totalitarianism in California. I know, it's California, but I always try to remember that, just like I don't blame myself for some of the stupid political stuff in my State, there is a decent-sized minority of Californians that are not responsible for the stupidity there.

That Oct. '20 post is titled Xia Den Flu De. Firstly, that was another attempt at Pin Yin due to Chinese people being involved in the story, and this time I tried to represent a long German word. (Give it a shot, c'mon!) See, the Chinese people in California, who, as a whole, probably voted right around the State's 3:1 ratio, D to R, were bitching cause, "State control" and "Totalitarianism". Reap what you sow, bitches! (In general, of course!)

The California government was prohibiting evictions of tenants who were paying at least 25% of their rent owed. You know, Covid-19. Can't make money, because the government banned that. Can't pay the rent then. Can't collect rent either. Still gotta pay property tax - luckily Covid-19 didn't affect it. Covid-19 didn't cut off the electricity/gas and water, so you still gotta pay. Tenants still destroy stuff - Covid-19 didn't affect that. Hard to come out anything but behind, but you can't evict people either. What CAN'T Government screw up?!

Rent control is more government intrusion into the market, but it's been around in certain places long, long before the Kung Flu. I won't say where this was, but I experienced the joys of this screwage of the free market. It was very hard to rent a room in this place in which it was hard for a prospective landlord to come out ahead. I would go to check out a place for rent per an ad and see 5 people already on the porch when I got there. They could be picky, so there's that.

"Let me see your references."
"Here ya' go."
"What's your favorite color?"
"Would that be light blue or dark blue?"
"Uhhh, light blue."
"OK, that's it. GTF off the porch."

When I finally did rent a decent place, just out of pure luck - a guy ahead of me bailed out after a week - the landlady begged me when election day came around "please vote these Communists out!"

The town in question did have more than its share of Communists too, especially for many years ago. Well, that story above is just California, so you know ... Now, I read that AOC and company want Zhou Bai Dien to take rent control nationwide. Per Rick Moran of PJ Media, Biden Makes First Move Toward a Radical National Rent Control Law.

Wait, Bai Dien can't make law though. Why don't AOC and Fauxahontas (yeah, she's involved) write up a proposed bill instead. Uhh, well, it's not like that anymore, see...
Under the Biden plan, the president is directing the Federal Housing Finance Agency (FHFA) to look at limits “for future investments and actions promoting renter protections,” according to a report in Yahoo Finance.

The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have been enlisted to “root out practices that unfairly prevent applicants and tenants from accessing or staying in housing,” according to the report.
They need more control to be able to place those deserving of it into people's rental property. They got just the guy to do it, too:
Specifically, lawmakers had called on the president to direct the FTC to issue new regulations defining excessive rent increases and enforce actions against rent gouging*, suggestions that are [morel ] aggressive than what the administration has so far put forth. The letter also asked to have FHFA put in place rent protection for tenants living in properties financed with government-backed mortgage properties, which is more closely aligned with what the president outlined on Wednesday.
Note those strings attached for government-backed mortgages, always with the negative strings, Moriarity. It doesn't have to stop there. There is nothing protecting landlords who may fully own their property from being screwed over by government interference. Rick Moran explains the stupidity from a Libertarian, small-government perspective:
Since the beginning of the republic, laws governing rent and leases have been local matters. If a landlord is cheating renters, local and state governments have the authority and the tools to punish the landlord. And being much closer to the problems of renters and landlords than anyone in Washington, local and state governments have a much better handle on the local rental housing situation.

But now, the federal government doesn’t believe that landlords should be compensated for owning rental property. They’re “gouging” renters. This is after more than two years of preventing landlords from evicting renters for non-payment of rent. And in a period of rapidly rising inflation, landlords are being accused of “profiteering” at the expense of renters.
Yep. Then, the writer quotes radical Rep. Jamaal Bowman (D-NY) in railing against "corporate profiteering" I really surprised it's still not so corporate as Mr. Moran notes:
It’s a ridiculous charge given that 98 percent of all rental property owners, or 80 percent of all rental properties, are owned by small business entrepreneurs who own five units or fewer, according to a study in Business Wire.
Yeah, well, they're working on that. I don't know if Rep Bowman is stupid or just the usual lyin' sack of shit, as Big Biz landlords like Black Rock are not going to be adversely affected by your rent control schemes. They help MAKE the laws and influence any move Bai Dien makes. The little guys will get screwed and maybe give up, making it even harder for a decent tenant family to rent a decent place. Big Biz and the deadbeats will be just fine though.

The writer doesn't go far enough in his explanation for what's going on, IMO. Perhaps Rick Moran has not read all that ancient Chinese secrets history, say on their Cultural Revolution. The big cry for justice and retribution during that mess was against the landlords. The landlords, by definition, OWNED something. That's not the deal in Communism - you don't just up and OWN stuff! Not if you're just some peon in the 99.4% you don't.

That's where we're at now. This may turn into anti-Commie week here at Peak Stupidity, as I sure see the way it's been going.

* Peak Stupidity's take on price gouging. (Spoiler Alert: We're FOR IT!)

Friday - February 17th 2023 8:21PM MST
PS: "And they wonder why there isn’t enough housing?" Yep, and see the latest post for a few calculations, Mr.Corrupt.

Thanks for the explanation, Alarmist.
Al Corrupt
Friday - February 17th 2023 8:10PM MST

And they wonder why there isn’t enough housing?
The Alarmist
Friday - February 17th 2023 7:42AM MST

Bribe is too untoward.

Of course the authorities and piker citizens priced out the market won’t see things this way, but like the re-pricing of bonds to reflect the difference between coupon and market interestrates, Key Money is the premium you pay up front to make up for the degree to which the monthly rent varies from (below) the expected market rate at the entry into the agreement.
Friday - February 17th 2023 7:17AM MST
PS: Mr. Anon, that stat about 98% of owners of 80% of the property is from a 5 1/2 y/o article in Business Wire, which may have contained data that wasn't quite current then either:

"Landlords and real estate investors lease roughly 44 million households and house 60 million people. There is an immense difference between the perception of this market and the reality, according to the findings, which were released June 13. According to the study, the majority of rental property owners are actually small entrepreneurs who own five or fewer units. This statistic equates to 10.8 million investors representing 98 percent of all rental property owners or 80 percent of all rental properties. This is vastly different from the perception that all property investors are large-scale players with hundreds of units in their portfolio."

The Kung Flu PanicFest since then was used, among other things, to accelerate the process of the Big Biz landlords scarfing up piece of property, and the little guy with his Gov-imposed rent control, has been getting screwed yet again.

As I've been writing, the elites HATE HATE HATE the White middle class and want to do away with the whole idea of it.
Mr. Anon
Thursday - February 16th 2023 8:44PM MST

A new and increasing phenomenon in America is large private companies gobbling up real-estate, not for speculation, but to rent out.

And it isn't just apartment complexes they're buying up, but whole sub-divisions worth of single-family houses.

Blackrock is a big player in this market, but so are a number of pension funds and other institutional investors.

It's all part of the new-normal neo-feudal society that our globalist overlords are trying to implement.

If the current government does implement national rent control, I have no doubt that these large institutional landlords will be effectively exempted in some way.
Thursday - February 16th 2023 7:06PM MST
PS: That's what it's about, Mr. Blanc, the votes. I think they also enjoy screwing up the working White man's ability to make a living too though.

Alarmist, I guess you mean bribe money of some sort?
Thursday - February 16th 2023 1:38PM MST
PS Alarmist: The Germans are going to have to do something with the millions of Middle Easterners that they’re importing. And the former USA is going to do something with the Latin Americans that they are importing.
The Alarmist
Thursday - February 16th 2023 1:25PM MST

America’s future cities ...
The Alarmist
Thursday - February 16th 2023 1:22PM MST

In NYC, the answer to Rent Control / Stabilization was “Key Money.”
Thursday - February 16th 2023 11:05AM MST
PS Sure, it will blow up the rental housing market. But that won’t happen until a few years down the road. It means votes for the Dems now.
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