Question
When rent control laws are proposed, the argument is made that the law will help the poor find affordable housing. Proponents of passing rent control
When rent control laws are proposed, the argument is made that the law will help the poor find "affordable housing". Proponents of passing rent control laws in Los Angeles and California make this argument.
In the article, consider the New York rent control law and how it has affected Mia Farrow and Carly Simon, two affluent celebrities who have lived in New York city a long time.
Based on the questions below with the answers in BOLD. What are the answers to the questions.
A. The New York rent control has allocated the supply of apartments fromrich to poor people/poor to rich people.
B. The New York rent control law has/has not helped the poor find affordable housing.
Consider recent immigrants to a city with rent control.
C. The rent control law in New York city has made it easier/harder, if not impossible
for recent immigrants to find affordable housing.
D. If rent control is passed in Los Angeles and California, the supply of housing will increase/decrease.
E. Supply and Demand analysis predicts that when the supply of a good decreases the price goes up/down.
F. Rent control laws can be explained asattempts to redistribute income without politicians having to vote to increase taxes/an attempt by third parties to impose their values on others.
G. Rent control laws benefits/hurts tenants who were renters when the law was instituted.
H. It benefits/hurts new renters and recent immigrants to an area with rent control because it becomes easier/difficult and sometimes impossibleto rent at the rent controlled price.
I. Rent control laws benefit/hurtproperty owners by lowering the price which they can charge for use of their property.
J. Rent control lawsincrease/decrease the supply and quality of housing by reducing the incentive to build new housing and/or maintain and upgrade existing housing.
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