In November 2021, voters in St. Paul approved one of the nation’s most stringent rent control laws. The law was later amended to loosen the controls slightly. However, that did little to motivate the construction of new housing. The U.S. Department of Housing and Urban Development (HUD) reports that building permits in St. Paul fell…
As previously noted on this blog, construction of new housing in St. Paul has been greatly reduced compared to the years before voters passed a rent control law last November. Many developers argue that they are having difficulty attracting capital because of the law. Despite a recent amendment to the law that exempts new construction…
As has been previously noted on this site, the city of St. Paul has amended its draconian rent control law. In an editorial, the Wall Street Journal notes that “according to data from the Department of Housing and Urban Development, there have been only two hundred (200) residential building permits in Saint Paul through April…
In her essay “The Anatomy of Compromise,” Ayn Rand wrote that when basic principles are involved, compromise is surrender: When opposite basic principles are clearly and openly defined, it works to the advantage of the rational side; when they are not clearly defined, but are hidden or evaded, it works to the advantage of the…
On November 2, voters in St. Paul approved a referendum to enact the nation’s most stringent rent control law. The city government was unprepared, and in the ensuing weeks dissension has been fomenting in the city as developers announce that projects are being put on hold. On one side are tenants and their advocates. They…