As more states are proposing – and some even implementing – statewide rent control measures, the policies are drawing national attention. In fact, a recent Washington Post editorial highlighted the return of rent control and the dangerous implications it can have when implemented.
Housing affordability is a real and growing problem nationwide that affects households at varying income levels. And although rent control is often proposed to address this crisis, it actually has the opposite effect – it exacerbates housing shortages, disproportionally benefits higher-income households and ultimately drives up rents.
These negative consequences, among others, are noted in the aforementioned Washington Post editorial, The economists are right: Rent control is bad. “The economists are right, and the populists are wrong. Rent-control laws can be good for some privileged beneficiaries, who are often not the people who really need help. But they are bad for many others,” the article reads.
- Real Estate Coalition Letter to House Financial Services Committee on Affordable Housing
- Office Conversion Legislation Introduced in the Senate
- Middle-Income Housing Tax Credit (MIHTC) Fact Sheet
- Rent Control Fights Across the Country
- Multifamily Units Under Construction are Up, But Demand for Apartments Remains