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Ask Richard Nixon how price controls worked when he tried to implement them. So getting govt. involved in something else is a good idea? Like anything they ever touch will be cost effective. I got a better idea. Why not just direct deposit 1 million dollars in everyone's checking account? That should solve a host of problems.
Ask Richard Nixon how price controls worked when he tried to implement them. So getting govt. involved in something else is a good idea? Like anything they ever touch will be cost effective. I got a better idea. Why not just direct deposit 1 million dollars in everyone's checking account? That should solve a host of problems.
Actually I think it was the Carter administration that initiated "wage and price controls" sometime around Dec 78. I only recall that because I worked a union job and we were involved in contract negotiation and our raises were supposed to be held to 7%.
At that time banks were paying CD interest rates of over 12%, forget how high mortgages were,
I get a kick out of this forum, so many people are against a raise in minimum wage, but there is also a thread on here how "$100K is nothing for NJ". How many hours at even a minimum wage of $15 would someone have to work to make $100K?
Actually I think it was the Carter administration that initiated "wage and price controls" sometime around Dec 78. I only recall that because I worked a union job and we were involved in contract negotiation and our raises were supposed to be held to 7%.
At that time banks were paying CD interest rates of over 12%, forget how high mortgages were,
I get a kick out of this forum, so many people are against a raise in minimum wage, but there is also a thread on here how "$100K is nothing for NJ". How many hours at even a minimum wage of $15 would someone have to work to make $100K?
First: The Scandinavian countries don't have a general minimum wage, but they have negotiated minimum wages in each industry. And those minimum wages are very high.
Second: Germany has by far the lowest youth unemployment but has the second highest minimum wage (ppp adjusted) in the EU.
It's alway "stupid" when the facts don't support your utopian vision of the world.
Lemme ask. Do you think if something costs more there is less demand for it. Yes or no? Price floors and ceilings have absolute consequences. Like gravity.
You can have "cost fixing" in any economy. It's called a price fixing/cost control regulation. It has nothing to do with "understanding" economics. It's simply applying a socialist regulation and taking out the free market in a certain sector. In fact, in certain cities they have "rent control". The problem is that the apartment is tied to the tenant in most cases so as soon as they leave the rent skyrockets. In many cases they're bought out. We also have section 8 vouchers and other programs. It would be less costly to simply cap rent right across the board and get the government involved in housing on a larger scale. There are already public housing complexes, but it's a tiny fraction of apartments. There are many police/fireman that are basically in welfare housing in nyc. This is a reality. It would be way cheaper for government/citizens to simply cost fix apartments. Let the free market do it's thing in other sectors. 100 percent socialism(you can't own your own house/massive red tape) of course doesn't work. Again, you can find markets where apartments go for 400/month and the landlord makes money. It's just a matter of providing housing for low income/lower-middle income people, which the free market has no interest in. It's just 4 walls. It doesn't need to cost so much unless you have someone who wants to make a lot of money(landlord). They've been economically raping people for years like this. Raising rents when they are already making a profit. People have made a FORTUNE doing this, while others struggle. It's a small percentage versus the masses.
It comes down to greed and speculative investing on apartments. Plain and simple. It leads to calls for a 15/hour minimum wage. It leads to lower quality of life for citizens and less money being infused into other sectors of the economy. It's horrible and needs to be fixed. Forget ideology and deal with reality. No reason in hell a 1 bed basic no frills apartment 1 to 2 hours from nyc should be going for 1400-2000 month when the min wage is where it's at. Outrageous. If you raise the min wage, OTHER people's wages will go up in proportion and apartments will go up as well. Inflationary effect.
This is awe inspiring in its utter lack of understanding.
I hope you realize that government housing projects are the worst blight on society that you can possibly dream up. They are breeding grounds for drugs, gangs & prostitution. If you want to be nearly certain to doom a child, put him in a housing project.
I love the: "LL make a fortune while others struggle". LLs risk capital, spend on taxes, insurance, maintenance. Like any other business there needs to be a rate of return or it is not worth it. And when it is not worth it, less apartments are built, and the current crop of apartments GO UP in price. That pesky supply and demand thing again.
I love the: "LL make a fortune while others struggle". LLs risk capital, spend on taxes, insurance, maintenance. Like any other business there needs to be a rate of return or it is not worth it. And when it is not worth it, less apartments are built, and the current crop of apartments GO UP in price. That pesky supply and demand thing again.
Ownership society. Very few have 10's of millions to "risk". And actually the risk in an apartment complex is extremely low compared to most types of speculative investment. What amount is considered "worth it" when you have 10's of millions? Again prices were driven UP by these people over decades. It's human nature. There needs to be some controls for basic apartment. Government needs to make it fair. That's just reality.
Yeah all that free market stuff is great when it works in their favor, but the second it doesn't they institute price controls. Look at salary caps in major league sports as an example of "cost certainty" instituted by the ownership class.
Oh and apartments that go for 400/month in the midwest the landlord also has maintenance, insurance ect. There's simply less people with upper/middle class money that they can jack the rent up on.
This is awe inspiring in its utter lack of understanding.
I hope you realize that government housing projects are the worst blight on society that you can possibly dream up. They are breeding grounds for drugs, gangs & prostitution. If you want to be nearly certain to doom a child, put him in a housing project.
So is it the affordable housing that makes it like this or the people residing there? You think all the crime/low life trash that ruins the community is caused by affordable housing or would these people still exist without the projects? Would the gang bangers that reside there suddenly become productive members of society? Would camden nj be great if all the residents stayed where they were in Camden, but they took away government projects? Those people causing all the problems don't disappear. They might move to another town with gentrification, but the problem is just shifting. If they stay in Camden, the problems would persist there.
These are complex problems in communities with bad problems that has nothing to do with government projects. If anything it would likely get worse without the housing as bad as that housing sadly might be in some cases.
So is it the affordable housing that makes it like this or the people residing there? You think all the crime/low life trash that ruins the community is caused by affordable housing or would these people still exist without the projects? Would the gang bangers that reside there suddenly become productive members of society? Would camden nj be great if all the residents stayed where they were in Camden, but they took away government projects? Those people causing all the problems don't disappear. They might move to another town with gentrification, but the problem is just shifting. If they stay in Camden, the problems would persist there.
These are complex problems in communities with bad problems that has nothing to do with government projects. If anything it would likely get worse without the housing as bad as that housing sadly might be in some cases.
A strange tactic of debate. Someone states a position and the response is "you think ALLLLLLLL crime is caused by housing projects"? "would gang bangers SUDDENLY become productive members of society?" Ummm, no. No one said that. No one inferred it. The straw man cometh though. Ridiculous.
Now, back to reasoned fact based debate that cares not about your feelings or your straw men. Government projects create perverse incentive systems. Many studies have been done on this. If you live in the projects, there's no point to trying to improve your lot in life -- they'll just throw you out, and you'll lose your subsidized rent. If a woman marries the dual income may lead to losing the apartment. The projects themselves are a sinkhole of disrepair. If you want to put a child in the worst possible odds of escaping crime, drugs, poverty, prostitution; put that child in a housing project.
Ownership society. Very few have 10's of millions to "risk". And actually the risk in an apartment complex is extremely low compared to most types of speculative investment. What amount is considered "worth it" when you have 10's of millions? Again prices were driven UP by these people over decades. It's human nature. There needs to be some controls for basic apartment. Government needs to make it fair. That's just reality.
Yeah all that free market stuff is great when it works in their favor, but the second it doesn't they institute price controls. Look at salary caps in major league sports as an example of "cost certainty" instituted by the ownership class.
Oh and apartments that go for 400/month in the midwest the landlord also has maintenance, insurance ect. There's simply less people with upper/middle class money that they can jack the rent up on.
Apartments that go for $400 in the midwest are in buildings that cost fractions of the amount they cost in the tri-state area. It is basic economics.
Who are you to tell a willing renter what to pay, who is the government to have a say? If you WANT to pay $2,000 per month for a 1 bedroom apt with a nice view that is within 40 minutes of your job, who is ANYONE get in the way of that? If the price is too high, guess what, no one offers to rent the apt for $2k. An amazing thing then happens like magic, the LL LOWERS the rent to a level to attract people willing to rent the apartment and POOF, like magic both the renter and the LL enter into a contract not coerced by any third party.
Or you can set up a system like Venezuela. Go check that out and report back on price controls.
Truman, Kennedy and Johnson also did, sometimes they were "voluntary" sometimes not so much. With Nixon I was a 18yr old with raging hormones and had other things on my mind. :-)
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