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this post was submitted on 15 Dec 2023
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The Nordics I think figured out a solution to this,
You might be familiar with all the classic arguments decrying rent controls for causing supply shortages as people refuse to give up their RCd housing,
Well up in northern Europe they don't have rent control, they have rent hike control, basically you can only raise rent by a given percentage at most per year, in the US, we could tie that percentage cap to the percent change change in federal interest rates, pass some of that market rally back to the consumers since a rate drop leads to a mandatory profit margin drop to match.
The French did too, it's called the guillotine.
That actually didn't help much of anything
Catharsis may feel nice but prioritizing feeling validated over addressing the problems you want to feel so valid about just leaves you feeling valid about a still festering wound.
Can we do both? Murder some of the ultra wealthy and also make systemic improvements?
I believe that would be called "redistributing the wealth" given how many stupidly wealthy people claim they couldn't live on any less.
An environment that allows the indiscriminate murder of an entire class is one that is inherently too lawless to organize systemic improvements to the root causes of institutional problems.
Like I said Catharsis feels nice but helps nothing.
This exists in a few places in the US under the term "rent stabilization" but it is not tied to interest rates or inflation and exactly who qualifies gets a little murky. Considering that housing is a basic human necessity I think some form of rent stabilization should exist everywhere. Market forces have their place but they are often disadvantageous to lower incomes and should be curtailed when we're talking something that people can't do without.
Well see that's why I tied it to be directly related to the federal interest rate, as a balance to create class interests for both courses of action.
Basically it'd be a way to ensure the fed doesn't get pressured too much to pursue bad interest rate policy like never raising it over 20 years until it's too late and everyone's mad about it.