Speaking of wacko ideas, the Biden administration is now touting national rent control.

God help us. If there is ANY economic issue that virtually all economists agree on it’s that rent control limits the availability of affordable housing, increases homelessness, and fails to help the poor.

No one bothered to tell the nutcases in this White House. Here is what Joe said yesterday:

“We’re going to make sure that rents are kept at 5% increase in corporate rents for apartments and the like. Homes are limited to 5%.”

Assar Lindbeck, the late left-wing Swedish economist who for many years chaired the committee that awarded the Nobel Prize, famously said: “In many cases rent control appears to be the most efficient technique presently known to destroy a city–except for bombing.”

Economist David R. Henderson disputes that – he argues based on the experience of Vietnam that rent control is worse than bombing. Either way, it’s really bad.