Based on whether one is a renter or a property investor, it is very easy to take a certain stance of rent control. The rather long blog post in Market Urbanism takes the side of the property investor, which makes it a very biased read, but it’s not without it’s merits. The arguments against rent control do make sense. Rent control allows tenants to abuse it and lowers the supply for other potential renters. Yet, i’ve always felt those opposed to rent control had another agenda when they’ve argued against it. Let’s not forget that rent control generally helps those that need the help more and places them more in a position of power (eg. the renters).
According to the blog post, rent control still remains a popular idea in such major states in the U.S. as California and New York (two states where rent prices are most likely to get out of control). But the concept is still a declining one. The blog post lays out many arguments opposing rent control such as the obvious one mentioned above and even more unknown effects like as the growth of discrimination when choosing renters or the decrease of mobility for skilled workers. And despite being mainly pro rent control (I am a renter after all), Market Urbanism brings up some great points. And thus the debate continues…
