Building More Apartments Won’t Reduce the Rent, Says Rent Control Group

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Housing and rent cost too much in big cities. That means we need to get rid of antiquated zoning statutes and build, build, build. But wait:

The Federal Reserve recently determined that increases in supply won’t automatically reduce rents. New York City’s former planning director said the “more housing” theory didn’t work in practice there. Zillow data show that adding market-rate units only benefits the rich: Though rents have declined slightly for luxury rentals, rents for working people continue to rise.

This is not coming from some neoliberal shill or NIMBY die-hard. It’s coming from the progressives at the LA Tenants Union. What’s up with that?

It’s simple: the LATU wants to convince us that more construction isn’t enough. We also need rent control, which means that everyone should vote yes on Proposition 10, an initiative on the November ballot that would repeal a California law limiting rent control.

That’s good to know, I guess. But when more construction and more rent control also fail to bring down prices, I wonder what we’ll need next?

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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