What is the case for rent stabilization?

Rents are outpacing pay and pay increases. Stiff increases (like the 20% I got, 50% my neighbors received) displace long term residents, including families. I am in the LA area and our school district lost 3 students as a result of my neighbors' rent increases, and other long-time neighbors moved.

Official response from submitted

The short answer is this. An effective community is a complex and wonderful thing for a neighborhood to achieve. Letting "the market" determine who lives in your neighborhood is a weird way for human beings to construct communities. Rich people can buy into any neighborhood, evict poor people and reconstruct what the neighborhood is around their own notions of community forcing the evicted to forage wherever they can find what they can afford. Bringing differently talented people together in communities with rich, different cultural backgrounds, career aspirations, etc is a skill in no way reducible to "letting the market" dictate gentrification. And if a democratic way to construct communities and neighborhoods means anything, it means NOT allowing rent inflation to dictate who lives somewhere rather than democratic decision-making. The bottom line: creative, democratically organized and run communities are fundamentally incompatible with capitalism and market mechanisms.

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  • Richard Wolff
    responded with submitted 2017-04-16 17:15:10 -0400
  • Christopher Kavanaugh
    commented 2017-04-16 11:05:07 -0400
    GENTRIFICATION, I hate the word; reminds me of the Scottish land clearances of people for grazing and more recently, a golf course. We are losing our cultural diversity; J- Town( little Tokyo) 5th generation Chicanos in Boyle Heights who ‘look suspicious’ by 911 calling
    yuppies who just moved in, San Francisco is a sterile playground and even coyotes have to jump into fenced communities.
    Numbers! there are still more of ‘us’ than them and we need to remember that power and use it.
  • Allison Henry
    posted about this on Facebook 2017-04-14 21:45:06 -0400
    Ask Prof. Wolff: What is the case for rent stabilization?
  • Allison Henry
    @Allison32321174 tweeted link to this page. 2017-04-14 21:45:02 -0400
  • Allison Henry
    published this page in Ask Prof. Wolff 2017-04-14 21:43:58 -0400