In April 2020, the town council in Montclair, New Jersey, passed a rent control ordinance. The Montclair Property Owners Association (MPOA) launched a petition drive to submit the ordinance to a referendum. The town clerk refused to certify the petitions, but on February 22, 2021 a judge ordered the town council to repeal the ordinance…
As the destruction caused by lock downs continues to grow, housing advocates have called for numerous measures to protect tenants, including rent control. And while economists have long agreed that rent control is destructive to the housing market, that hasn’t stopped politicians from catering to “tenants’ rights” groups. As an example, in Spain, a law…
The law of supply and demand is a fundamental economic truth. One of its tenets is that when the demand for a value exceeds its supply, prices will rise. Conversely, when the supply of a value exceeds the demand, prices will fall. The willingness of producers to manufacture a value for a particular price constitutes…
Last November, the Washington State Supreme Court unanimously upheld Seattle’s “first-come, first-served” ordinance. The law requires landlords to publicize their criteria when selecting tenants and then rent to the first qualified individual. Proponents of the ordinance claim that it provides equal treatment for all individuals. According to the Seattle Times, When landlords are allowed to…
An Oakland couple was recently forced to pay $6,582 in order to reoccupy their own home. The military couple had been renting the house while stationed in Washington, D.C. An Oakland ordinance, passed in January of this year, requires landlords to pay tenants a “relocation” fee if the landlord wants to end a lease for…
Rent control has long been presented as a way to keep housing affordable. By forcing landlords to charge below market rates, rental housing is supposedly more affordable. But like any form of price cap, rent control ultimately leads to a lower supply of housing. However, this fact is irrelevant to many. Indeed, next week voters…