This is a seemingly perennial issue. It seems that nearly every generation, there is a temptation to indulge the fraud that rent control will be helpful. Unfortunately, the reality is otherwise, and always has been:
Having To Explain Rent Control Over And Over Again
2 thoughts on “Having To Explain Rent Control Over And Over Again”
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Rent control is returning to some communities. But evidence suggests there are better ways to keep low-income people housed.
How can Americans make housing more affordable? In many places, housing prices are rising much more rapidly than wages. The market is bad enough to revive movements for rent control. For decades, of course, some cities have frozen rents or limited rent increases. Last month, for the first time, an entire state imposed rent control – Oregon.
Rent control is not the solution it appears to be on the surface. While well intended, these policies have been proven to work against their intended purpose and ultimately hurt renters, housing providers and communities. These facts explain the unsettling truths about rent control which are important to recognize in housing affordability discussions.
Fred, NYC has a long history with rent control. It has always been problematic and unjust. Sometimes what “feels good” is not necessarily the best thing to do…