Socialists want to abolish landlords. Good luck finding an apartment
The Democratic Socialists of America has imagined a future in which the bills disappear.
TL;DR
- The Democratic Socialists of America propose public housing construction, regulation of investment properties, and universal rent control.
- The article argues that eliminating landlords does not eliminate housing costs and that capitalism's reward for supplying homes and competition for tenants is a more credible route to affordability.
- A study on San Francisco's rent control found it reduced displacement but also led landlords to reduce rental housing supply, potentially increasing market rents over time.
- Minneapolis's reforms relaxing building restrictions and allowing more apartments coincided with housing stock growth and restrained rent increases.
- The author suggests that a serious affordability agenda should welcome private investors, permit more apartments, and remove rules that protect existing owners from competition.
- Earning a return by adding homes serves a public purpose, even with commercial motives.