I've never heard him say that he believes rent control will solve housing affordability. Can you share where you've seen him say that?
I've seen him say it will prevent landlord exploitation, but by definition - almost any pragmatic appliance of rent control will admit a goal of cheaper month-to-month rent. At present, a lot of rental properties have a monthly payment that are equal to - or sometimes more - than mortgage payments for similar* offerings in the same area.
It then follows logically that if rent control leads to cheaper rent, and a lot of rent costs are presently equal to or more than mortgage payments, then it makes renting affordability easier - and housing affordability is still innately more expensive. Rent control is a rent solution, and I guess it makes RENTAL of housing more affordable - which is good. But it's not a solution for the costs of buying houses.
> At present, a lot of rental properties have a monthly payment that are equal to - or sometimes more - than mortgage payments for similar* offerings in the same area.
A lot? Where? You'd expect investors to be backing up the trucks for these properties if that were true.
No doubt. But ceteris paribus, that is of primary interest to many investors. But maybe you can elaborate instead of making sphinx-like pronouncements.
Primary? For investors who know their stuff it is of significant interest. Prices are far more important (and house prices roughly follow demographics, so are dropping in many places)
Swell. Can you tell me where all these properties are where the rent covers the mortgage payments? It would be even better if you could highlight the ones where the rent also covers insurance and taxes. Since there are plenty of the former, I'm sure the latter subset is also pretty easy to find.
