Laws That Govern Residential Housing - Essay Example

Stephanie: Marcus highlighted crucial information about rent controls in the United States, but failed to consider whether they are relevant in contemporary times. On the same note, the pros and cons of the implementation of rent control were not mentioned. There is a need to consider such aspects in light of today’s world and economic situation within and without the United States. Rent control is a practice that sets price controls for the residential housing industry. The question is, are rent controls necessary today? According to Stephanie, the answer to this question is NO.
In my opinion, it is undoubtedly true that rent controls have their pros and cons. However, an outright argument against rent controls may not hold. This is because residential housing is a sensitive issue in society and the economy. The quality of residential housing is influenced by numerous factors, all of which must be balanced to establish a quality standard of life. The industry is highly competitive, leaving renters prone to exploitation by rental house owners. It is the duty and responsibility of relevant agencies to assess residential housing and determine whether it is necessary to set a price ceiling.

Lisa concurred with my argument but added that all stakeholders in the industry should be involved in designing and implementing rent control policies. According to Lisa, rent controls safeguard the renters’ welfare and also protect their interests. Basic economics dictates that an increase in demand triggers an increase in the price level. In this respect, when the residential housing industry becomes so competitive, renters are cornered and suffer the consequences. However, such controls should not be used in a manner that favors one party and harms the other.
On his side, Michael contended that rent controls are not relevant. He noted that the number of countries with operational rent and eviction control laws is so small compared to those that do not. Specifically, the number stands at around 40 countries in the whole world. The limited use of rent controls globally, according to Michael, depicts an aspect of their irrelevancy.
I disagree with Michael on the basis that the limited use of such laws does not imply that they are not important. Tony concurred with my position, arguing that only the users of such laws know their benefits. Rent controls are there to govern residential housing, as opposed to the victimization of house owners or favoring renters at the expense of landlords and landladies. Being a form of price control, rent controls can also be used by the government to influence the economy for the benefit of the people. Read More