Maybe this will be an object lesson for Americans. As one of the major party candidates touts price controls, we get to watch what happens when a major city tries this:
Prayers for Mexico City. https://t.co/j3IDy6ukFP pic.twitter.com/ijQlObPwKQ
— Scott Lincicome (@scottlincicome) August 24, 2024
Godspeed, Mexico City.
More from the AP:
The legislature of Mexico City approved the most ambitious rent control law since the 1940s Thursday, limiting rent increases to the rate of inflation in the previous year.
Rents in the vast city of 9 million inhabitants were essentially frozen in the 1940s, and remained so for decades on older buildings. Those controls were largely lifted in the 1990s.
The new law will also require landlords to register all rental agreements with the city. It was unclear whether the new law will allow landlords to charge more for improvements on their properties.
There won't be improvements if they can't pay for them. Enjoy living in squalor.
Literally the meme pic.twitter.com/0NAbdDhTdU
— Scott Lincicome (@scottlincicome) August 24, 2024
Literally.
This writer has often said the Left can't meme because they are the meme.
My first thought: "my god someone just bombed Mexico city" pic.twitter.com/c1Gyj8Syrl
— Scott Lincicome (@scottlincicome) August 24, 2024
Reread that last part:
In many cases rent control appears to be the most efficient technique presently known to destroy a city -- except for bombing.
And this is what Kamala wants here. The economic equivalent of bombing a city to rubble.
¡Dios mío!
— Jerry Bohl, Jr.🇺🇲🇮🇱 (@jr_bohl) August 24, 2024
Dios mio indeed.
Queue up: less rental units, no one can find a place to live...
— Old Grouch (@old_grouch1) August 25, 2024
The rate of homelessness will skyrocket.
Who was it that said that other than carpet bombing, rent control was the best way to ensure the ruin of a city? https://t.co/EjEE0qRQWs
— Avi Woolf, Wilderness Conservative🐺 (@AviWoolf) August 25, 2024
It was in the article.
They are screwed. https://t.co/c4Pcd5OL27
— Pradheep J. Shanker, M.D. (@neoavatara) August 25, 2024
They sure are.
Of all economically illiterate policies price controls (food, rent, or whatever) is the most moronic.
— Alejandro (@gul_garak) August 25, 2024
Yet it seems to be the most commonly repeated. https://t.co/YMNV47tyNx
What's the definition of insanity again?
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