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Comment by danesparza | Hacker News Reader

Buying a home is a hedge against inflation.

Renting has no similar protections. Your choices are, "Pay the (increased) rent" or "Move"

There are cheaper ways to hedge inflation. Also, people with careers don’t really need to hedge inflation especially.

In 1960 rent was about 10% of median income. Today it’s more like 30%. This might sound bad but in 1960 food was 30% of median income and today it’s around 10%. Prices are always relative, it’s impossible for everything to get cheaper. There’s no reason to assume rent is especially prone to this except that it has been over a certain period. Other periods it has been the opposite.

"people with careers don’t really need to hedge inflation especially"

This is like saying, "you don't need to hedge inflation as long as everything goes right"

You don't need to hedge inflation ... until you do.

Rent control changes the math on this. Obviously location dependent but it can have a significant effect.

The markets with rent control have astronomical increases in rent when compared to markets without rent control. Also, you lose supply when there is a unit that it doesn't make sense to renovate because the future rent won't be high enough to cover it. So it remains unrented instead.

Sure, but from the perspective of the individual renter (who arguably doesn't have the power to change rent control law anyway), their point stands.

I mean, I would argue that's why rent control exists in the first place: Because there is a market with astronomical increases in rent (not the other way around, like you are suggesting)

Rent control causes other problems, such as lack of supply and lack of maintenance.

Absolutely.

Other things that change the math:

- Only allowing individuals to rent living spaces (no corporations)

- Only allowing individuals to buy houses (no corporations)

- Not allowing corporations to buy influence in Washington DC

Anything that puts the focus back on what's the ethically and morally right thing to do for humans changes the math.

And don't get me wrong: I'm a capitalist. But for some reason, some capitalists really get upset with this kind of language.

I wonder why?

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