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The economic quandary of rent control has successfully perpetuated itself in many different American communities for several reasons. Social beliefs and political controls have allowed for renters to retain their protected "right" to cheap rent at the expense of the rights of land owners and others who would hope to prosper from a free competitive housing market in these select cities. This paper details the economic, social, and political elements of rent control in large cities. It outlines both the positive and negative elements involvement, and draws an overall conclusion based on economic policy.
From the Paper:"Opening up premier properties to the market would spark interest and allow property owners to determine supply and demand. Property owners can determine how many properties they would like to rent as well as the amount for which they will rent them. These land owners will most likely choose to rent out as many properties as possible at the highest rate the market will endure. This will allow the above increase in supply that should prevent prices from going too high".
Cite this Essay:
Rent Control (2006, July 02) Retrieved June 18, 2019, from https://www.academon.com/essay/rent-control-67203/
"Rent Control" 02 July 2006. Web. 18 June. 2019. <https://www.academon.com/essay/rent-control-67203/>