Why Rent Control Is A Bad Idea

From the Paper:

" Rent control is raised as an issue in city after city either because the city does not have rent control and some tenants' and liberal groups believe it should be instituted, or because the city does have rent control and critics want it abolished because of the damage they see it has done to housing, repair and construction, and even social relationships. Rent control is an idea with great appeal for the beleaguered tenant who feels that rents are too high and that there has been no government effort to correct the problem. Advocates see it as a way of imposing fairness, but in truth it imposes unfairness and disparity between people who have rented for a long time and new renters. It reduces the incentives landlords have to repair their buildings and to make improvements. It takes the profit out of being a landlord, and it effectively eliminates competition in housing in(...)"

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