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This is England. Rent control isn't a thing.

Interesting. So why isn't an activist outfit like Generation Rent (the group pushing for this law) working on getting rent control? In the US everyone on the left takes it as a given that rent control is a good thing.

Why aren't you able to first Google whether they are or not, rather than automatically assume they aren't because an article about something different doesn't mention their entire political advocacy work?


Generation Rent is very much on the left and very much in favour of rent control.

They've already tried but this is a Tory government so they cannot completely destroy the private rented sector.

But be sure that if Corbyn/Labour get in power soon this will be implemented no matter the economics against it.

Anecdata: My brother is a small-C conservative who is very worried about Corbyn precisely because he is expecting Corbyn to introduce rent controls. However, he also recently said, and I quote: “The conservatives cannot be trusted with the economy“. Given the current clown-car-on-fire-in-a-dumpster that is British politics right now, I would give 50% odds of the next election happening within one year and equally divided odds the largest party after that election being Conservative, Labour, Liberal Democrat, or Brexit Party.

Not that this contradicts anything you’ve just said.

Bear in mind that rent control, like all other government-enforced programs, suffers from unintended consequences. It provides disincentives to maintain properties, disincentives to build more properties, and may therefore result in far fewer housing options for the area affected. Just like fiat money expansion measures, only those at the beginning of the effect benefit, most others suffer the consequences.

Edit: Sources https://www.bloomberg.com/opinion/articles/2018-01-18/yup-re... https://realestateinvestingtoday.com/how-rent-control-reduce... https://www.rpbg.org/index.php/rent-control-it-doesn-t-work https://www.multifamilynw.org/news/the-high-cost-of-rent-con...

Few reasons, mostly because home ownership is fetishised in the UK to an absurdity and doing so could quite possibly curb property values. Previous conservative governments bribed practically an entire social class by giving away social housing at way below market value.

There is a massive amount of people in that generation who are wealthy simply because of that policy combined with large rise in house prices. This selection of people + regular homeowners no matter the party line, will always vote against any policy that a) has the possibility to curb increasing house prices or b) fairly taxing those profits.

We don't have anything like property taxes in the UK, and the closest thing we do have is council tax which (laughably) is the tenants responsibility. It's a situation that no party has a realistic chance of being able to solve. Even if there were MPs brave enough, it's a difficult problem to navigate because there's millions of people with 0 savings (retirement or otherwise) but now own 500,000gbp+ houses.

If you tax that appreciation in value or your policies reduce these prices to sustainable levels then you suddenly have to now provide social security for millions of people who now will need a lot of extra assistance via state pension.

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