rent
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Rent Control: The Data Collection Begins
Read more: Rent Control: The Data Collection BeginsIt’s hard to believe that a full year has passed since rent control was passed by the County Council at the behest of Will Jawando and Kristin Mink. On July 18, 2023 I published the first snapshot of the county’s rental market. On October 7, 2023, I published a second snapshot. Since then I’ve been…
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Rental Inventory Update
Read more: Rental Inventory UpdateOn July 17, 2023, the county council enacted rent control. In Exile the Poor, Keep the Golf Courses I mentioned I’d keep a record of apartment rentals as advertised on realtor.com to test the expectation that because of the rent control rental inventory will shrink. Here is the update for October 4, 2023. Analysis This…
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Do You Own A Rental in Montgomery County? Sell it now!
Read more: Do You Own A Rental in Montgomery County? Sell it now!(Disclaimer: No investment advice is intended in this post.) If you own a rental in White Oak, Bel Pre, Aspen Hill, Gaithersburg, or Montgomery Village, you might want to sell. Today. The county government has developed a Community Equity Index that indicates what areas reflect the county’s prevailing diversity. (Actually, this index indicates what areas…
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Exile the Poor, Keep the Golf Courses
Read more: Exile the Poor, Keep the Golf CoursesIn his 1967 speech The Three Evils of Society, Martin Luther King, Jr. accused white civil rights leaders, and whites in general, of promoting “socialism for the rich and capitalism for the poor.” His line of argument was compelling, and evoked what today’s free-market activists think about government programs: no matter what that program is,…
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Wanted: Rent-Control Stories
Read more: Wanted: Rent-Control StoriesCouncil Members Mink and Jawando are pushing hard to get rent control passed in Montgomery County. CM Stewart is on board, because she really believes that rent control gives renters a “predictable housing,” an outcome that didn’t happen in Takoma Park. It’s hard to know what the final version will look like, but one thing…
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Stewart’s Cognitive Dissonance Regarding Constructive Evictions
Read more: Stewart’s Cognitive Dissonance Regarding Constructive EvictionsCouncil Member Kate Stewart recently stated that “any rent increase over 10 percent is known as a constructive eviction. Constructive eviction is a landlord’s effort to remove a tenant through means other than a formal eviction.” This comes from someone who just voted to raise property taxes by 10 percent. That move, presumably, has nothing…
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The Federal Reserve Bank, Inflation, and Local Rent Control
Read more: The Federal Reserve Bank, Inflation, and Local Rent ControlMoCo reformers (Democrat, Independent, and Republican alike) often bemoan the conflation of national politics with local electoral races. Last year the Republicans fielded their best candidate in a generation for county executive, Reardon Sullivan, and he came up short by quite a margin. Hard line Democrats in this county, and even more so the progressives,…
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The Losers and Winners of Rent Control in MoCo
Read more: The Losers and Winners of Rent Control in MoCoThe social-justice crowd claims that rent control is the only way to protect defenseless tenants against their oversized landlords. (The previous four posts in this series have shown that the only actor with oversized power in the county’s housing market, and the only actor to blame for the shortage of affordable housing is the county…
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Renters Should Pay More (Immediately) in Taxes Each Fiscal Year to Contribute to MoCo’s Budget and Spending
Read more: Renters Should Pay More (Immediately) in Taxes Each Fiscal Year to Contribute to MoCo’s Budget and SpendingSeveral years ago, even prior to being a homeowner in Montgomery County, Maryland, I came across this article by the fantastic personal finance blogger ‘Financial Samurai’. I majored in economics from the University of Maryland, so I always had an interest in this kind of thing. But even more so then basic economics, personal finance,…
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Rent Control: Prejudice in the Form of Legislation
Read more: Rent Control: Prejudice in the Form of LegislationDuring the Obama and Trump administrations, the federal government inflated the currency, but you blame the landlords for rent increases. Prices of food are going up, but you put price controls only on the landlords. Prices of insurance are going up, but you put price controls only on the landlords. Prices of fuel are going…