The Myth of Rent Control

The myth that rent control helps the poor is exposed and disproven

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Episode Transcript

Speaker 1 (00:02):
Well, welcome to the Morning Report. We've not done many
speaker based morning reports, but here's another one for you.
This has to do with rent controls and rent freezes,
the ones that are being proposed by the mayorial candidate
in New York.

Speaker 2 (00:20):
Hey.

Speaker 1 (00:20):
You ever notice how bad policy gets wrapped up in
a blanket of compassion. Rent freezes are no exception. The
sales pitch goes like this, we need to freeze rents
to protect working families.

Speaker 2 (00:35):
From those greedy landlords.

Speaker 1 (00:38):
Sounds noble, right, Well, let me tell you the truth
that your average city council member and apparently Zoran Mendani
won't touch with a ten foot pole.

Speaker 2 (00:50):
Rent freezes just don't protect the poor.

Speaker 1 (00:55):
In fact, in practice, they often hurt the poor and
reward the well off.

Speaker 2 (01:01):
Take New York City.

Speaker 1 (01:02):
There are plenty of wealthy people living in rent controlled
or rent stabilized apartments, Folks making six figures, even some
retirees with fat pensions or Wall Street connections. They've been
parked in the same apartments since the nineties, paying twelve
hundred dollars for a place that should go for four thousand. Meanwhile,

(01:27):
single mom making forty k can't find anything affordable within
ten miles of her job.

Speaker 2 (01:35):
How is that fair? Because a dirty secret is this.

Speaker 1 (01:41):
Rent freezes don't just quote cap rent end quote, They
cap opportunity.

Speaker 2 (01:48):
They lock in advantage for the few while slamming the
door on everybody else.

Speaker 1 (01:55):
Developers stop building small landlords, any of them immigrants or retirees,
gets squeezed to death. And who scoops up those distressed properties? Hmmm,
not Mom and pop. It's Wall Street. It's the hedge funds,

(02:16):
big real estate investment trusts, the same crowd these socialists
pretend to hate. This is what you get, socialism masked
as compassion policies that sound like justice but deliver entrenched

(02:39):
privilege for the well connected and higher walls for the struggling.
Because here's a heart truth. Rent freezes help those who
already have a place. They do zero for the people
desperately trying to find one. They're not solving the housing
crisis freezing it in place.

Speaker 2 (03:03):
So the next time someone says.

Speaker 1 (03:05):
We need to real freeze to help the poor, ask
them how many hedge fund babies and Columbia professors are benefiting. First,
my name is Pillay Lawson. This is the Morning Report,
Real Talk no filters. Let's keep the truth from getting evicted.