A right wing think tank has published a blog post suggesting that while rent controls appear a popular help for current tenants, they do substantial harm to future ones - as well as to landlords and the quality and volume of rental stock.
The blog by Gary M Galles says that the debate surrounding rent controls looks mostly at how they will affect ‘tenants’ without differentiating between existing and future tenants.
Galles writes: “It would provide a massive windfall for current tenants at the expense of landlords, forcing or keeping rents far below market value, with tenancy protections guaranteeing the windfall into the future … But it would harm the far larger group of people who seek rental housing after rent control is imposed. The slowed growth or shrinkage in the quantity and quality of the housing stock over time that results will increasingly lead to ‘no vacancy’ signs rather than available or affordable units.”
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Like politicians rent controls don't work
Like politicians rent controls are bad for tenants (even though they think they are good!)
Try and control the price of anything, and you'll find it in shorter supply.
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