Leftist secularists never learn. When Obama was working for ACORN in the 1990s ACORN advocated government measures to make it easier for blacks to get home loans with below-market credit ratings. ACORN succeeded and the result was the world fiscal collapse of 2008. Last year democrats passed edicts allowing renters to live rent-free until the pandemic was over, but did not suspend landlords' responsibility to keep up with their property taxes and repairs on their rental properties. The Marxist reasoning behind those edicts was that property owners are rich and deserve no compassion while renters are poor and deserve unearned financial benefits and compensations at the expense of the property owners.
Against better advice, St. Paul has passed a Marxist rent control measure specially designed to give black renters financial advantages at heavy expense to the rest of the community. Because of the Marxist rule home building has been seriously curtailed, hurting businesses across the board due to work shutdowns in construction, and St. Paul is now facing a serious housing shortage for the coming years.
Marxism has turned prosperous nations into 3rd world dumps by foolishness such as this. God help us.
www.nationalreview.com
“The truth is, we’re seeing it. This isn’t about emotion,” she said. “This is about how does a deal get financed, how does a project cash-flow, can you make a fair profit on a deal?”
“Developers will do deals where it makes sense for them to do deals. Our goal in St. Paul is to make this as inviting an environment as possible, so investors . . . want to bring their projects here, because St. Paul desperately needs more housing across the entire spectrum.”
Proponents of the rent-control initiative said it was desperately needed to offer predictability to both tenants and landlords and to advance racial justice in the city. St. Paul would “lead the nation in rewriting the outdated and unfair rules that give landlords unlimited power to economically exploit their tenants,” one rent-control supporter wrote in the online MinnPost.
Proponents acknowledged that annual rent increases in the Twin Cities have averaged less than 3 percent over the past two decades, but “BIPOC renters are the most likely to experience egregious rent spikes well above 3 percent.” They dismissed warnings that rent control would imperil new developments and disincentivize property owners from improving the quality of their buildings, uncontroversial opinions among the vast majority of economists. They argue that the developers are bluffing about pulling the plug on projects, and all they’re really trying to do is scare residents and city leaders in order to change the ordinance.
Against better advice, St. Paul has passed a Marxist rent control measure specially designed to give black renters financial advantages at heavy expense to the rest of the community. Because of the Marxist rule home building has been seriously curtailed, hurting businesses across the board due to work shutdowns in construction, and St. Paul is now facing a serious housing shortage for the coming years.
Marxism has turned prosperous nations into 3rd world dumps by foolishness such as this. God help us.
St. Paul Rent-Control Initiative Backfires, Unleashes ‘Chaos’ in Housing Market | National Review
A ballot initiative that caps rent hikes at 3 percent is already killing new development.
www.nationalreview.com
“The truth is, we’re seeing it. This isn’t about emotion,” she said. “This is about how does a deal get financed, how does a project cash-flow, can you make a fair profit on a deal?”
“Developers will do deals where it makes sense for them to do deals. Our goal in St. Paul is to make this as inviting an environment as possible, so investors . . . want to bring their projects here, because St. Paul desperately needs more housing across the entire spectrum.”
Proponents of the rent-control initiative said it was desperately needed to offer predictability to both tenants and landlords and to advance racial justice in the city. St. Paul would “lead the nation in rewriting the outdated and unfair rules that give landlords unlimited power to economically exploit their tenants,” one rent-control supporter wrote in the online MinnPost.
Proponents acknowledged that annual rent increases in the Twin Cities have averaged less than 3 percent over the past two decades, but “BIPOC renters are the most likely to experience egregious rent spikes well above 3 percent.” They dismissed warnings that rent control would imperil new developments and disincentivize property owners from improving the quality of their buildings, uncontroversial opinions among the vast majority of economists. They argue that the developers are bluffing about pulling the plug on projects, and all they’re really trying to do is scare residents and city leaders in order to change the ordinance.
