Thus, rent control usually applies only to older buildings, since you can’t go back and unbuild an apartment house that was constructed before 1947. Points include rent control’s inability to increase affordable housing supply, doesn’t help the people that need it the most, and provides little incentives for maintaining housing quality.
There is little debate as to whether the United States has a housing affordability problem. Rent control provides little incentive to maintain quality.
Swedish economist Assar Lindbeck famously wrote that "next to bombing, rent control seems in many cases to be the most efficient technique so far known for destroying cities." That rent control is an ineffective and often counterproductive housing policy is no longer open to serious question. That rent control is an ineffective and often counterproductive housing policy is no longer open to serious question. The profound economic and social consequences of government intervention in the nation's housing markets have been documented in study after study, over the past twenty-five years. Rent stabilization generally applies to buildings of six or more units built between February 1, 1947 and December 31, 1973. When laypeople hear the phrase “rent control”, they typically conjure up one of a few images. Create a discussion. Governments can hardly be credited with behaving as rational actors. 4. Rent control can harm multifamily properties’ quality and, ultimately, value to the surrounding community.
Yet many cities still impose rotating rent controls, in a misguided attempt to make housing more affordable. Maybe they think of rent control in NYC, where they saw the characters from Friends live in large apartments for far below market value.
Create a new discussion. Advocates argue that rent control makes apartments affordable for tenants in rent-controlled units, while opponents claim that it actually makes other apartments in the city more expensive. Everywhere "rent control" is used, it's a dismal failure. The profound economic and social consequences of government intervention in the nation's housing markets have been documented in study after study, over the past twenty-five years. Rent control applies only to buildings built before February 1947 and to units occupied by a tenant who has lived in the unit continuously since before July 1, 1971, Furman said.
Rent control measures are controversial. Failure to provide these may allow the tenant to receive a lower rent. By providing little to no opportunity for profit, rent control decreases owners’ motivation …
Recently, Multifamily Executive outlined rent control’s failure and why it doesn’t work. PLEASE … When rent is "too damn high," people move. When laypeople hear the phrase “rent control”, they typically conjure up one of a few images.