A rent cap is a clear sign that the capitalist system is broken and we need a better system to match the housing needs and supply without feeding into heartless vampires who'd rather have empty apartments than rent them at a reasonable price.
Yes, as we can see from the very great examples of where this approach worked perfectly. Now every one is perfectly housed in decent conditions and for cheap in United States or South Korea. We all know the dozens of thousands of homeless folks in San Francisco and around really want to live in slums or on the streets, and their situation has nothing to do with speculation, gentrification and AirBNB. /s
> Are you South Korean? What do you know about South Korea's real estate?
No. Very little. Just read articles over the years saying they are facing similar issues of real-estate bubble and speculation and that prices in Seoul are getting close to those of New York.
That's not how it turned out in the UK. As this graph illustrates, when the local government authorities were prohibited from building more housing, from the 1980s onwards, the private sector didn't pick up any of the slack: https://i.stack.imgur.com/MmJ5N.png
The capitalists instead decided to optimize for steadily increasing the price of housing by restricting supply, so these are now primarily seen as an investment with nearly-guaranteed returns, rather than places for people to live.
