Wednesday, July 07, 2010

In France it is Illegal to Rent an Apartment for Less than One Year!

This New York Times story stunned me with how stupid regulation can be. So the government prefers wealthy people to leave their apartments empty for much of the year instead of renting them out? I wonder what the hotel industry did to get that law passed? Seems there is so much inefficient regulation in the housing industry worldwide.

1 comment: said...

It might also have been introduced to protect tenants from short-term leases, for example renting for three months and then having to pay a higher rent or else move out.

I suspect we'd all be better off if there was no 'regulation' of legal activities, and simply clearer laws, enforcement and penalties for those things that are deemed to be illegal. Regulation tends to have unintended consequences, and, unfortunately politicians seem to think the solution is always to add another layer of legislation on top to 'fix' things.