Tuesday, September 7, 2021

New York Trashes Landlords Again

This WSJ editorial raises questions about the security of landlord's property rights (WSJ, Sept. 2021). What exactly does the landlord purchase when the government can later forbid evictions or increases in rent? The restrictions decrease the income the landlord expected to earn. Does the inability to use the property as desired and decrease in income constitute "government seizure of private property for public use without just compensation"?

Do restrictions on evictions and increases in rent increase the incentive to become a landlord or decrease the incentive? How would the change affect the future availability of rental housing?

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