Authored by Ryan McMaken via Mises Institute,
Los Angeles, home to one of the least affordable housing markets in North America, is now proposing to expand rent control to "fix" its housing problem.
As with all price control schemes, rent control will serve only to make housing affordable to a small sliver of the population while rendering housing more inaccessible to most.
On January 1, 1994, the North American Free Trade Agreement (NAFTA) officially came into effect, virtually eliminating all tariffs and trade restrictions between the United States, Canada, and Mexico. As Visual Capitalist's Jeff Desjardins reminds readers:
It's official: moments ago TransCanada said the U.S. Department of State issued a presidential permit for the construction of the Keystone XL Pipeline, ending a multi-year controversial, at times acrimonious debate over the future of the pipeline. The pipeline linking Canadian oil sands to U.S. refiners had been blocked by Barack Obama, who said the pipeline would do nothing to reduce fuel prices for U.S. motorists and would contribute emissions linked to global warming.
Last month we wrote about "Mexico's Fiery, Trump-Like Populist Who Looks Increasingly Likely To Win The Presidency In 2018." As we noted before, Pena Nieto’s PRI party, which has held power for most of Mexico’s modern history, has seen its popularity eroded in recent months due to a series of corruption scandals, surging gasoline prices and a perception among Mexican voters that Pena Nieto himself has been too soft in combatting an aggressive Trump Presidency.
One week ago we reported that "Mega-Bears Smell Blood As Mall REITs Tumble" in which we wrote that "just like 10 years ago, when the "big short" was putting on the RMBX trade, and to a smaller extent, its cousin the CMBX, so now too some are starting to short CMBS through the CMBX. They are betting against securities backed by malls in weaker locations where stores could close in quick succession, triggering debt defaults."