Monday, June 10, 2013

We'll Take Friends Where We Find Them

Not that long ago, your blogger received email denouncing her as the Handmaiden of the Devil or the Spawn of Satan for informing tenants in foreclosed properties of their rights.  She reveled in these denunciations, believing that it meant she was doing something right.

But now she has friends in unexpected places.  First the $%@# Rahm Emanuel indicated support for legislation in Chicago that would require foreclosing lenders to either provide tenants with a lease limiting rent increases to two percent or, if the lender chose to evict the tenants, pay each household $10,600 in relocation costs.  (This would cover some of the costs involved in finding a new home and moving, something economists don't even recognize, believing that the rental housing market is "frictionless".)

Another new buddy is Angela Merkel.  Yeah, the woman from Germany who is destroying the economies of a bunch of European countries to protect German banks from having to be accountable for their bad loans. Her.  And what is she advocating?  Rent control.  Yeah, limits on the amount landlords can increase rents when tenants move.  Yeah, vacancy control.

Just as long as they don't invite me to dinner...

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