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The John Batchelor Show

#RentControl: Albany proposes more confiscatory regulation on landlords. Richard Epstein, Hoover Institution.

The John Batchelor Show

John Batchelor

Arts, Society & Culture, Books, News

4.52.8K Ratings

🗓️ 25 March 2023

⏱️ 6 minutes

🧾️ Download transcript

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@Batchelorshow


#RentControl: Albany proposes more confiscatory regulation on landlords. Richard Epstein, Hoover Institution.

https://www.wsj.com/articles/albany-new-york-democrats-rent-control-landlords-kathy-hochul-6352d431

Transcript

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0:58.0

Believe they're getting a great deal, but it turns out Richard, the proposal by the New York State Legislature is to change the rules again.

1:06.7

This time to even more handcuff if that's the right metaphor.

1:11.7

Restrain landlords from investing in their properties and punishing them if they do X or Y.

1:19.2

Your measure of rent control has always been that it is a mistake to continue it.

1:24.9

And this suggests that you're not only right, they're going to use rent control to what?

1:29.9

What is the goal here of punishing the landlords because they own a building that rents?

1:36.7

Well, they don't believe they're punishing.

1:38.3

And these progressives have a very strange worldview.

1:41.3

They assume that all landlords, many of whom are small and separate businessmen, have infinite amounts of wealth.

1:47.2

That what you do in these particular cases that you now reduce the rent that could be charged by statute.

1:53.2

And that nothing else will change.

1:54.8

The levels of investment in the property will remain.

1:57.2

The tenants will essentially move out when it's no longer in their interest.

2:00.8

And this is all fourth.

2:02.8

The first of these cases, case called Block the Herschen 1920, which is a pre-record by a five to four vote.

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