The Democratic Socialists of America has imagined a future in which the bills disappear.
asserted
bills → imagine → which
“You don’t pay a mortgage or have a landlord,” its 2026 program declares.
asserted
program → pay → landlord
Its housing agenda calls for publicly owned construction, tighter regulation of investment properties, and universal rent control.
asserted
agenda → call → properties
For people struggling to afford an apartment, that is an attractive invitation.
asserted
that → struggle → apartment
But eliminating the landlord does not eliminate the cost of housing.
asserted
eliminating → eliminate → housing
Someone must still finance construction, replace the boiler, and repair the roof.
asserted
Someone → finance → roof
Socialism changes who receives the invoice.
asserted
who → change → invoice
Capitalism offers a more credible route to affordability: Reward people for supplying homes, then make them compete for tenants.
asserted
them → offer → tenants
The distinction matters because a landlord’s greatest advantage is a renter with nowhere else to go.
asserted
advantage → matter → ?
More available apartments weaken that advantage.
asserted
apartments → weaken → advantage
A competing building gives tenants an alternative and owners a reason to negotiate.
asserted
building → compete → reason
Profit attracts investment.
asserted
Profit → attract → investment
Competition pressures owners to offer better terms.
asserted
Competition → pressure → terms
Rent control promises a shortcut.
asserted
control → promise → shortcut
Its benefits can be substantial for tenants who secure protected apartments.
asserted
who → secure → apartments
Its costs often fall on people still looking.
asserted
costs → fall → people
Economists Rebecca Diamond, Tim McQuade, and Franklin Qian studied San Francisco’s 1994 rent-control expansion.
asserted
Economists → study → expansion
Their 2019 American Economic Review paper found that the policy reduced displacement among incumbent tenants.
asserted
policy → find → tenants
But affected landlords reduced their rental housing supply by 15%, including through sales to owner-occupants and redevelopment.
asserted
landlords → affect → occupants
The researchers concluded that the lost supply likely increased market rents over time.
asserted
supply → conclude → time
The distinction makes the finding more revealing: Owners responded to regulation by changing how their properties were used.
asserted
properties → make → regulation
The government controlled the price without controlling the response.
asserted
government → control → response
One study cannot establish the effects of every rent regulation.
asserted
study → establish → regulation
It should, nevertheless, trouble a movement proposing universal controls.
asserted
It → trouble → controls
Protecting today’s tenant while narrowing tomorrow’s choices is an expensive definition of progress.
asserted
Protecting → protect → progress
Minneapolis offers a different approach.
asserted
Minneapolis → offer → approach
Successive reforms relaxed building restrictions, reduced parking requirements, and allowed more apartments near transit and commercial corridors.
asserted
reforms → relax → corridors
According to Pew Charitable Trusts researchers, the city’s housing stock grew 12% between 2017 and 2022, while rents increased 1%.
uncertain
rents → accord → 2017
Elsewhere in Minnesota, housing stock grew 4%, and rents rose 14%.
asserted
rents → grow → Minnesota
That comparison does not prove zoning changes explain the entire difference.
asserted
changes → prove → difference
It does show that substantial construction can accompany restrained rent growth.
asserted
construction → show → growth
The reforms gave private investment more room to meet demand.
asserted
reforms → give → demand
Socialists also propose building homes.
asserted
Socialists → propose → homes
Public construction can add supply.
asserted
construction → add → supply
The question is why we should restrain private provision while asking taxpayers to finance more of the burden.
asserted
we → restrain → burden
Public ownership does not exempt a project from construction costs, financing constraints, or maintenance obligations.
asserted
ownership → exempt → costs
Nor does defending capitalism require defending every landlord.
asserted
defending → defend → landlord
Fraud, collusion, and unsafe conditions deserve enforcement.
asserted
Fraud → deserve → enforcement
Families unable to afford adequate shelter need targeted help.
asserted
Families → afford → help
But a serious affordability agenda must also welcome the investor willing to finance another building.
asserted
agenda → welcome → building
…and 7 more, not listed.
The Aporia
