

Doing their not-own thing: “generation rent”
7 snips Jun 11, 2024
Millions are spending over a third of their income on rent, and policymakers seem lost in tackling this crisis. The discussion spans the troubled landscape of housing affordability faced by millennials globally, with innovative solutions from Auckland offering some hope. Meanwhile, the U.S. grapples with TikTok regulations that raise complex questions about privacy and politics. Lastly, pop stars are rediscovering the beauty of albums, moving away from singles in a streaming-dominated world, adding depth to the music scene.
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Stockholm's Rent Control Woes
- Stockholm's strict rent control, with rents 50% below market, has created a 20-year waiting list.
- This demonstrates economist Milton Friedman's warnings about arbitrary space allocation and inefficient use.
Rent Control's Dependence on Supply
- Rent controls combined with limited housing supply are especially damaging.
- Vienna's 'renter's utopia' is enabled by easy construction and stagnant population growth, unlike Manhattan or London.
Auckland's Upzoning Success
- Auckland, New Zealand, upzoned land for denser development in 2016, leading to a housing boom.
- This policy added 44,000 homes and kept rents 30% lower than projected.