Why rent control won’t lower rents, and what we should do instead.

 

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There’s been a lot of talk about rent control recently, and the Culinary Union even introduced a ballot initiative to implement rent control in North Las Vegas. The issue with rent control is that while it sounds good, the places that enact it end up having the highest rents in the country. Rent control tends to stifle supply. 

 

People who want rent control really want affordable housing, which we also want. Rents have gone up so much that many don’t have the jobs to support the payments anymore. The rental market has reached a standstill, but the answer isn’t rent control. The way to create affordable housing is to increase the housing supply. 

 

"While rent control sounds good, it only ends up stifling supply."

 

However, Nevada has a problem with just building more housing. We have the highest percentage of federally owned land of any state in the country. Clark County is almost 90% federally-owned land. We have to buy that land back at an exorbitant price and then somehow still build affordable housing on it.

 

It will take a lot of negotiating, navigating bureaucracy, and working with our federal representatives to get that land back at a cost that lets us build the housing we desperately need. It’s a big problem, and we’d like to take it on, but we need the right people in place to help find a reasonable solution.

 

If you’d like to talk more about this issue, feel free to call or email me. I’d love to hear from you.