Oregon’s rent cap law called into question this legislative session. This is going to be a carbon-copy session in Salem. As usual, the people elected by the Democridiots have yet to discern the difference between their posterior region and a bottomless depression on the earth’s surface. Here’s how this works: The rules of supply and demand state that if the supply goes down and the demand stays the same, the price will go up. That’s always been true, and no amount of smoke and mirrors in Salem will change that. What’s that? Do you need an example? Look at the current price you’re paying for eggs. It’s gone up 49% year over year because the demand hasn’t gone down, but 23 million chickens had to be put down because of the Avian Flu, which cut the supply – fewer chickens to lay eggs. Building on that example, it’s pretty obvious that to get more housing, the answer is to increase the potential for profit in the investment and construction sectors. As argued here, when Salem Democrats were ramming the bill through, all a statewide rent cap would do, was cause the investment and construction industries to build more condominiums, forcing MORE people into canvas condos. By cutting the allowable rental profit percentage by more than half, they’re making the problem worse faster. What are the Democrats thinking?!? THAT’S the issue – they DON’T think.
TwiceRetired.org - Commonsense Commentary
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