Spreading the Blame
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There is lots of blame to share (“Blame Rent Control for High Rents in Recession,” May 19). Let’s spread it around.
--All persons who want to live on the Westside of Los Angeles are bidding against a growing number who want that ocean breeze. Anyone who doesn’t have to live there can move inland and, in general, pay lower rent.
--All persons who added babies to the world population in the past 40 years can be blamed for raising the demand for housing, everywhere.
--The Congress, who is us, reduced the intrinsic value of apartment ownership and precipitated the S&L; crisis when they removed (abruptly, I might add) the massive tax benefits of owning income property, thus removing a de facto subsidy of renters. (Some would say of owners, but it fits both categories to some extent).
WALTER K. WAYMEYER
La Verne
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