[cowsandmilk]

What your response misses is the time component of vacancy.

If I have rent control, I will list at a higher price and let the property sit vacant for longer to find a tenant because the law says that I am limited in the ability to later adapt the rent to the market.

Without rent control, there is much less incentive to leave a property vacant, looking for a tenant willing to pay a higher price point.

Most microeconomics courses teach that markets don't have one price for a good, and one of the lessons will be in strategies, such as coupons, that owners of goods use to sell into the market at multiple prices. There isn't a single number that a landlord can rent a unit out for in a given market.

[kelnos]

Except that in SF, a landlord can get a tenant for nearly any price, because demand really is that high, and supply really is that low. On the occasion that a rent controlled apartment goes back into the market in SF, it's snapped up within a week, even if the listing price is set above market rate. A savvy renter (which you have to be, if you want to get a place in SF) will know that they're paying a higher price for a much more stable rent year over year.

[refurb]

That's actually a really good point. One could argue that value of rent control is priced into the rent.

I've know plenty of people who winced at the rent they paid, but told themselves that in 5 years it'll be worth it as the rent will be below market.

[carlmr]

>in SF, it's snapped up within a week, even if the listing price is set above market rate

That makes it the market rate for the apt though. You'd be above market rate if it didn't get rented out in a normal timeframe.

[kelnos]

No it's not; that's a pretty circular definition. Determining the market rate involves comparisons with similar units in the same neighborhood.

[ddebernardy]

So... in other words, what you're missing is a punitive tax on vacant property, as an incentive to rent asap - at any price.

[cjalmeida]

Keep adding obligations to landlords to the point no one wants to be one. Then, if you can't, for any reason, secure a mortgage your only alternative is homeless. Sounds like a good idea.

[mhuffman]

Real estate, by multiple measures, is the most profitable industry in the US private sector. It is heavily taxed and regulated because it is a money-printing machine. We are not in danger of there being no landlords.

[1] https://ftalphaville.ft.com/2016/03/29/2157698/ranking-ameri...