Rent control on 20+ year old houses not affecting new construction seems like a [citation needed] sort of thing. I’m not sure how large the effects are, but rent control on old houses would reduce the value of new houses because you’re signalling that new construction is very likely to come under similar regulations in the near future.
It’s possible this is only “limited upside”, but limiting the upside to investments isn’t something that obviously has no effect. I assume the effect on limiting upside for construction would be much smaller than i.e. startups, but I’m not convinced it would be literally zero.
I don’t have citations for you, but it seems relevant that income far in the future gets discounted quite a bit compared to current income, which would imply that short-term incentives are more important than long-term incentives.
(A better argument would need to be made with realistic numbers.)
Rent control on 20+ year old houses not affecting new construction seems like a [citation needed] sort of thing. I’m not sure how large the effects are, but rent control on old houses would reduce the value of new houses because you’re signalling that new construction is very likely to come under similar regulations in the near future.
It’s possible this is only “limited upside”, but limiting the upside to investments isn’t something that obviously has no effect. I assume the effect on limiting upside for construction would be much smaller than i.e. startups, but I’m not convinced it would be literally zero.
I don’t have citations for you, but it seems relevant that income far in the future gets discounted quite a bit compared to current income, which would imply that short-term incentives are more important than long-term incentives.
(A better argument would need to be made with realistic numbers.)