Opponents of the legislation, including Greg St. Aubin of the Illinois Realtors Association, called the bill “a very destructive policy” that would discourage investment in new housing developments and create an atmosphere of uncertainty for developers and landlords around the state.
Econ 101 – supply and demand. The supply of housing units needs to increase in order for rent to come down. Instituting rent control is a disincentive to develop more housing units. On the other side of the equation the way the city/state is bleeding residents maybe the demand will diminish.
Mike
5 years ago
Did the Housing Committee discuss that passing rent control legislation out of the State House Housing Committee might scare away some potential or current landlords during a time of increased crime and civil unrest?
Or maybe that is a goal of some during the march towards socialism.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Econ 101 – supply and demand. The supply of housing units needs to increase in order for rent to come down. Instituting rent control is a disincentive to develop more housing units. On the other side of the equation the way the city/state is bleeding residents maybe the demand will diminish.
Did the Housing Committee discuss that passing rent control legislation out of the State House Housing Committee might scare away some potential or current landlords during a time of increased crime and civil unrest?
Or maybe that is a goal of some during the march towards socialism.