“Most mainstream economists are taught these theoretical models where perfect competition exists, there’s no such thing as market power, you know where landlords have more power than renters”
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Why President Biden’s rent stabilization proposal won’t solve the housing crisis
President Joe Biden proposed legislation on July 16 aimed at implementing nationwide rent stabilization for the next three years, targeting units overseen by landlords with 50 or more units to prevent annual rent increases exceeding 5%.
What Biden’s “Rent Cap” Is, and Isn’t
“We have policies in place that have helped build the middle class through federal support for housing,” Paul says. “However, that federal support for housing is really only applied to the segment of Americans that can afford to own a house.”
Experts Respond To Biden’s Rent Cap Comments
“Biden et. al are finally taking the housing crisis seriously. Going on offense to increase supply AND cap rent increases is precisely the type of intervention we need to drastically improve housing affordability & stability.”
Departing RealPage Exec’s Flimsy Rant Against Rent Control
Let’s first consider the AER survey and New York study, which were both published over 30 years ago (in 1992 and 1972-89, respectively). As Rutgers economist Mark Paul has written, decades-old theoretical assumptions about rent control are being increasingly challenged by contemporary evidence:
The politics of Rising Rents—Rent control verses the free market
Rents in Australia have risen sharply during the past three years, and it’s become a political issue. The Greens are demanding the introduction of rent controls, but that idea has been rejected by most federal and state leaders. What do we mean when we talk about rent...
Economists Are Right To Hate Rent Control
Progressives keep trying to rehabilitate the reputation of rent control, and often misuse existing research to make their case that it's an effective policy with few, if any downsides. The most recent example comes in the form of an essay for The...
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