The other thing I didn’t think of is renting makes it a lot simpler to share accommodations. A group of 2-4 people can split the rent on a property that none of them would qualify for individually.
Agreed that the current situation parallels a lot of industries in that it’s concentrating wealth in the hands of those that are already ahead and it’s difficult for new people to become part of that system. Personally, I think the solution for any of these essential goods/services is crown corporations, which creates a standard of service that private industry has to compete with instead of being able to collude to maximize margins.
Hmm…. I’ve never heard about those kinds of limits here. It’s not too uncommon for 3-5 people to split a house(which may or may not actually have 3-5 legal bedrooms) around here, though the trend seems to be splitting those houses into 2-3 legal suites, each of which might have multiple bedrooms.
I don’t think a medallion system is a solution though, as I understand that was brought in to artificially lower supply and increase revenue for the cab companies by limiting the number available. I do like the idea of more proactive enforcement of regulations to ensure that housing is kept in reasonable repair, but that can also increase prices since I’d venture most people put up with poor quality rentals due to them being the lowest cost; at least in terms of rent, though utility costs can outweigh that. If there was safe, clean, and affordable housing available then people trying to market sub-standard units wouldn’t get renters and would be forced to either upgrade the unit or sell.