The rent is too damn high

In the news we hear quite a bit about life becoming unaffordable for middle class citizens. One the most visible and critical components of life is housing. In the US congressman have said, "the rent is too damn high" and on social media commentators like Jimmy Dore have repeatedly said government needs to do something about housing being unaffordable. I don't understand these arguments for a few reasons.

1. It's not the role of government to provide affordable housing

2. Affordable is too subjective an assessment for consensus agreement

3. If a landlord can find a tenant willing to pay more and they aren't in breach of contract why shouldn't they be allowed to make that deal?

I don't wish ill on poor people or anyone paying a large percentage of their income to housing but the state is not the answer to all problems. Some solutions need to come from society at large, the state should not replace community.

So how can people afford housing when the rent is too damn high. Well rents are seen as too high they are most likely responding to supply and demand principles. If you can't afford to live in the city you work then need to look elsewhere. There are alternatives although they are not palatable, shared living spaces, co-op building ownership, commute long distances from a district in your price range or even find a job in a city you can afford. Like I said, not palatable.

Getting rent control seems like a solution but it is short sighted. If you can't get market value for property you own as a landlord what incentive do you have to maintain the building? Does the election have a cap on fees that can be charged? Does the landscaper or painter or elevator repair company? Therefore development stagnates and rents climb further as there is less supply available. At this point people who clamored for rent control will clamor for government housing projects. I would love for someone to point out where government housing didn't turn into crack dens and truly horrible living conditions. The government is incentivized to spend as little as possible on maintenance the problem is not solved.

Alternatively if you use supply and demand principles then rural parts of the country will be rejuvenated and city prices will come down to levels that can be supported. One other possible outcome when teachers can afford to live in the city in which they teach is that teacher salaries may go up and supply of teachers will be reduced.

Regardless a satisfactory result is hard to obtain by taking from the have's and giving to the have nots. You will teach the have nots learned helplessness and they will not value that which is freely provided and someday you will run out of have's from which to take.