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Another Rotten Idea From The 1970s Returns: Rent Control

One of the dumbest economic ideas of modern times is rent control. Few factors have caused the disappearance of affordable housing in major cities more than putting a cap on rents.

Even Assar Lindbeck, a socialist economist from Sweden has concluded: “In many cases, rent control appears to be the most efficient technique presently known to destroy a city.”

So naturally, progressives want rent control to make a comeback. Boston’s new mayor won the election by campaigning for it and Santa Ana, California, and St. Paul, Minnesota have recently adopted it.

Next week, voters in the California cities of Richmond, Pasadena, and Santa Monica will vote to cap annual rent increases to about 3 percent. Voters in Orange County, Florida, which includes Orlando, will decide on a rent control measure though the courts may rule it is unconstitutional.

Nothing increases homelessness more than rent control. We hope voters in California and Florida see the folly of these policies.

Another Victim of Rent Control

Unleash Prosperity Hotline


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