Don’t be sorry. You’re entitled to have an opinion. You start earning equity as soon as you own the place. You can borrow against that equity almost immediately.
Rent Control, like other market regulations are there for the protection and betterment of society as a whole. You have too great an imbalance and the system starts to falter. Everyone gets hurt.
As usual you go into drama queen mode when I post the opinion of Professor Storper. You do that because you are a developer or at a minimum have developers as clients. Your bias is why you have zero credibility on the subject.
Storper’s opinion was devastating to your side hence your emotion. In fact the day after it was published the CA Senate put the upzoning bill "SB 50" on ice.
If your motivation was truly altruistic and in support of more housing to help with the shortage you would be for Airbnb restrictions and vacancy taxes. But as a developer or developer shill you are naturally against those things.
Prove me wrong. For the millionth time — how do you feel about Airbnb restrictions and vacancy taxes in LA?
BTW below is pulled directly from the UCLA Luskin School of Public Affairs website and states there are competing opinions at the university with regard to deregulation in the housing industry. NOTHING was debunked so quit lying and calm down.
"A CityLab article about a state bill aimed at easing California’s housing crisis cited UCLA Luskin faculty and research. The bill, SB 50, would loosen zoning restrictions to permit more housing units near jobs and transit. A diverse mix of Californians — residents of rich suburbs, neighborhoods fighting gentrification and struggling farm towns — have weighed in on both sides of the bill. UCLA Luskin Urban Planning faculty also offered competing perspectives. Associate Professor Michael Lens commented, "Homeowners generally benefit from scarcity. So pulling some of the zoning powers away from cities seems like something to consider to reduce those negative incentives." Professor Michael Storper offered a counterpoint, noting that "some of the most diverse communities in California are made up of suburban-style, single-family homes."
" You get a place to live until you can’t afford it"
You don’t live in a bubble. Your quality of life is dependent upon the coexistence of the millions of people around you. Los Angeles is a majority renter city and not just by a little. Our city is in a well acknowledged housing crises as easily seen by the the hundreds of thousands of homeless people who congregate under freeway overpasses, and most notably east of downtown. But really all over the city. Not an insignificant components of this homeless crises, is due to otherwise contributing members of society, who work, but pay a large amount of their income to rent, falling off the bottom of the housing market and become homeless due to un-mitigated rent increases or other life occurrences.
Rent control helps stabilize communities. It allows renters to benefit from the communities getting better and not just displaced by others. If a landlord wants the tenant to move they have to pay them out. In this manner the renter too, gets equity and they can benefit from an area getting better, and commanding higher rents. They can use this money to establish themselves somewhere else or perhaps as a down-payment on a home for themselves.
Landlords can be very successful. Tenants, specially long term tenants are a part of that success.
Gentrification does not mean a neighborhood getting nicer. It means displacement. It means the people who have been a part of the community, the people who have lived and worked in a community, people who owned businesses, and perhaps even participated in community betterment, do not get to reap the benefits of THEIR community getting nicer.
Because of weak rent control laws, these people get little to no equity in the increase of value of a place, and in fact are forced, against their will to leave their long time neighborhoods.
I am one of these people.
In regards to graffiti. Every major city has these problems. Every city has it’s knuckleheads but it doesn’t mean we should allow that activity to define a place. It doesn’t mean we shouldn’t have nice things.
BTW: If you haven’t done so. Take a trip down to Watts Towers. Very little graffiti there and an inspiring sculpture. The city has built a small park around the towers.
So much of the comments here are "taggers are just going to tag it therefore do not build anything nice." This is such a defeatist attitude. We need more nice things in South L.A., This attitude that only "nice" areas of town can have art, and museums, etc contributes to under investment. I wouldn’t be surprised if the sentiment is founded in self un-recognized racism/ classism.
All people need art, and art walks, nice civic things. Not just wealthier enclaves.
Much of the 1.3 mile art walk is located on not level terrain. There is a frontage street that is at a higher level then Crenshaw Blvd. I bet the stairs and what not are to access this higher level.