ajhit406

http://www.economist.com/comment/2358176#comment-2358176

I am one of these SF oligarchs, and I benefit from high rents of both types. Nevertheless, I have long called for an end to the rent-seeking. To me, the problem started when the boomers of old voted themselves two enormous market distortions over 30 years ago.

Proposition 13 was sold as a means of keeping granny in her home, but it does not particularly benefit the elderly, the sick, or the needy. It benefits land owning incumbents (like me) at the expense of everyone else. Kill it. Start with the grotesque subsidy for commercial property, and then phase out the residential subsidy.

Not to be outdone, SF renters voted themselves a rent control ordinance. This also does not particularly benefit the elderly, the sick, or the needy. Like Prop 13, it benefits one thing only - incumbency. I know fairly wealthy 50-somethings who have rented apartments for decades, and now pay a third or a quarter of market rates thanks to rent control. They keep these now 

ajhit406

   86 pts/0    S      0:00 -zsh                                                                                                                                               
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  112 pts/0    Z      0:00 [sed] <defunct>                                                                                                           

ajhit406

require "#{File.dirname(__FILE__)}/../vendor/bundler_gems/environment"
 
class Rails::Boot
  def run
    load_initializer
    extend_environment
    Rails::Initializer.run(:set_load_path)
  end
 
  def extend_environment

ajhit406

# Load the environment constructed from the Gemfile
#require File.join(RAILS_ROOT, 'vendor', 'bundled', 'environment')
require "#{File.dirname(__FILE__)}/../vendor/bundler_gems/environment"
 
module Rails
  class Boot
    def run
      load_initializer
      extend_environment
      Rails::Initializer.run(:set_load_path)

ajhit406

# Load the environment constructed from the Gemfile
#require File.join(RAILS_ROOT, 'vendor', 'bundled', 'environment')
require "#{File.dirname(__FILE__)}/../vendor/bundler_gems/environment"
 
module Rails
  class Boot
    def run
      load_initializer
      extend_environment
      Rails::Initializer.run(:set_load_path)