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paulbeard Profile picture
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3 Nov 19, 3 tweets, 2 min read
He's right…rent control — setting prices — will remove what little incentive landlords already have to keep up/invest in their properties. And it will discourage new construction as investors look elsewhere for opportunities. 1/

businessinsider.com/bernie-sanders… Image
Yes, investors: landlords are not in the hospitality business. They buy properties: tenants pay off the mortgage and they take the profits from the land's appreciation. The property just has to be "good enough" to be rented; scarcity just lowers that bar and keeps rents up. 2/
Still wondering why so many self-IDed socialists are not pushing for land taxes/ground rents: even developers support the idea. Tax the land, lower the cost to build on it, reduce housing scarcity, and lower rents that way, through competition. 3/F #LVT

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More from @paulbeard

paulbeard Profile picture
19 Nov
This argument will never make any sense, that vast resources of the productive wealth — cities — are somehow going to be put under austerity budgets. In today's post-industrial/knowledge economy, land/location is the means of production… 1/
…the store of value that creates wealth and attracts investment of money and energy. We were told the Internet would make it possible to work anywhere, hollowing out the expensive cities. Anyone who has looked at Seattle or SF home prices know didn't pencil out. 2/
People want to be where the action is, to make connections, to build things, and no amount of high-quality video conferencing or fat bandwidth is going to replace that, not even in the Pandemic. So why would you starve the source of your wealth at a time like this? 3/
Read 10 tweets
paulbeard Profile picture
18 Nov
Can't is right. I learned this from watching Netflix's The Crown when it started…the idea that a job/position has its own agenda, regardless of what the person holding it wants. Does anyone really think @BarackObama wanted to do all the things he had to do in his tenure? 1/
The USA became the world's leading oil producer during his time…did he want that *personally* or was it something the job of POTUS needed to see happen, for the economic strength of the country? A center-right country is not changing course for a temporary change of captains. 2/
The bumper sticker "if the people lead, the leaders will follow" is more accurate than many think: if we want real change it has to come from the bottom, from the voters, putting the right people in office, from city hall to the fed'l gov't. 3/
Read 4 tweets
paulbeard Profile picture
9 Nov
So how is a 4 million vote margin out of 147 million votes a #blowout? Ask @kingjames if a 75-71 score is a blowout in basketball? If we look at the electoral college, is 306-211 a blowout? Would a (rounded) 31-21 football score be a blowout? 1/
Or to round down further, would a 3-2 baseball score be anything remarkable? No. I get that 4 million is a lot but against 147 million? It's 3%. If you left a 3% tip you'd better run out the door. Would you be happy w a 3% raise? 2/
The bigger question is what did those 71 million voters want? Some thoughtful pieces in the weekend papers with @AOC and @tressiemcphd… I don't think many wanted more family separation or a continuation of the current COVID strategy. What we should ask is what they oppose. 3/
Read 13 tweets
paulbeard Profile picture
17 Oct
Anyone among my followers who knows scams, specifically money laundering through craigslist (or something like that)? Someone offered to buy something I listed and sent what appears to be a stolen check for 10X the amount…obvs not cashing it.
Bkgd: I offered a bike for sale on CL for $200 and someone replied with a full price offer + $50 to hold it. Said he would send a cashiers check (I should have stopped there but people are weird: why not PayPal/venmo?). Got email from Fedex to expect a package from Florida (!).
Package arrives with a business check — not a cashiers check — for $2,250 from a business in central Michigan. Immediately a text comes in to say the pkg has arrived, followed by an email. Thing is, I sold the bike locally for full price, as I told the scammer I would.
Read 12 tweets
paulbeard Profile picture
16 Oct
Rent control is one of those ideas, like "term limits," that tells you how much someone has thought about the problem. Not much, it turns out. I wrestled with rent control until I read Progress & Poverty and learned how land value, not shelter rent, is the driver.
1/

#LVT
We already have term limits: they're called "elections." And anyone who can win, in a fair and equally-funded race, can stay in office as long as their constituents say. But "fair and equally-funded" are where we need to put in some work. The power of incumbency is real. 2/
So with rent control. It looks like an easy fix…limit what landlords can charge for rent. Boom: done. But this completely misses the rising value of land, rising tax assessments, and how that means properties decline or become vacant, as the capped rent doesn't pencil out.
2/
Read 8 tweets
paulbeard Profile picture
15 Oct
Thought experiment for the urbanists, housing advocates, etc.

If you could buy a house in NE Seattle (98115) for $216k with a $5,000 land rent, forgoing the value of the land or you could pay $500k for both, which would you choose?
If you buy the house and rent the land, you would pay $1,226.42/month vs $1,975.60/month…$750/month that you would spend on any number of other things. Sure, you get more mortgage interest to deduct but is it worth it?
I realize this may not get any traction at all, what with my 800 followers, but maybe some more connecter person can amplify it.
Read 4 tweets

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