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Metropolitan DC Local Politics
Reply to "Investors Steering Clear Of Maryland Suburbs Due To Regulatory Concerns"
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[quote=Anonymous]It is hilarious to see developers lose their minds over a law that limits rent increases on 23-year-old buildings to almost 3x the historical norm. It is almost as if they never really meant all that talk about lowering prices by building more housing and that they don’t really believe in filtering. If anything they said had been true, the rent increases in these 23–year-old buildings wouldn’t even be close to the cap. You’ve all shown your true colors. If only you hadn’t colluded illegally to raise prices. If only people like Equity hadn’t come in with double-digit rent increases after buying older buildings. You’d still have your nice setup here. Sorry not sorry you’re going to have to figure out a different way to extract rent from the land you overpaid for. Maybe just sell it at a loss so building something has a better chance of penciling out for someone else. [/quote]
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