Tuesday, January 14, 2014

Continuing Education

The Prager University site has been revamped with a slick new look and feel. The content is as superb as always and now you can also take quizzes and get credit for each short but ever so sweet course you view.

The latest such offering is called “Why Rent Control Hurts Renters”:

Nicole Gelinas of the Manhattan Institute shows why price ceilings on apartments hurt those it intends to help -- but also why rent control is here to stay. She explains the background of rent control in America (focusing on New York in particular) and the negative effect it has on prospective renters and on the quality of rent-controlled apartments. Did you know that landlords of rent controlled apartments in New York City rarely improve their properties? Watch this video and learn why. Hint: They know that there's a long line of people ready to move in if their current tenants get fed up. And even though evidence suggests (and economists on the Left and Right agree) that rent control is self-destructive, the voters love it!

Even if your renting days are behind you, there are important economic principles at play with rent control that apply to many other areas.