Socialists rejoice; Free Marketers… well, this ain’t your year

As reported in SF Gate and SocketSite, SF Supervisor Chris Daly plans to introduce a series of laws that are intended to help tenants in this time of economic crisis, and accordingly will anger landlords.

The proposals include the suspension of any rent increases that would cause a tenant’s rent to exceed one-third of their income; expansion of the rights of tenants who want to add roommates to help pay their rent; and limiting the amount of “banked” rent increases — where annual rent increases allowed under city laws are saved up and then imposed at one time — to 8 percent.

(source)

With our country nationalizing a piece (or more) of just about every bank, it should be anticipated that this type of legislation would at least be discussed. However, I can see landlords’ angry resistance to this type of maternal/paternal legislation, since the free market is such a big part of our economy, and let’s be honest, our culture. As counterpoint to Supervisor Daly’s planned legislation, arguments can be made (here and here) that the market will work itself out if allowed.