GOP Economist Admits Rich Folks Are Hoarding Rent Controlled Properties

Destroying the working class' ability to afford decent housing in big cities is Dr. Steele's answer to housing issues.

Dr. Charles Steele, Associate Professor of Economics at Betsy DeVos's Hillsdale College told Charlie Kirk the way to ease housing problems in big cities is to ditch rent controls of all kinds as well as most zoning issues.

Kirk only wanted to hear solutions from right wing free-market idiots, and not anyone that supports the working class.

Another thing would be to just decontrol prices.

STEELE: That's a big deal, and certainly in New York City, they have rent controls. It's interesting. A nice example of this.

I did my PhD at New York University, so I lived in New York City for four years.

Some of my friends who finished their doctoral degrees and went on to the World Bank and the IMF, they had rent-controlled apartments. I believe they still have them.

Once you have a rent-controlled apartment, it's a fun thing to have.

These are wealthy people, friends of mine, nice people, but you don't want to get rid of those things.

In LA, that's exactly right.

Once you have them, it's a luxury item that you do not want to get rid of.

In LA, you get a rent-controlled apartment.

Some of these people are making $200,000, $300,000, $500,000 a year in a rent-controlled apartment, and they say, Oh, you know, we're not giving that up.

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