The White House is not proposing a federal rent control law.
It's nevertheless a form of rent control, meaning the bombs are still dropping.
Why is rent control so destructive? Let's turn it over for a moment to economist William Anderson: "Price controls do not decrease costs; they simply shift them. Over time they reduce opportunities for production," he writes.
Of course rent controls follow "The same pattern." "Controls destroy incentives of owners to build new rental housing," and eventually, "Shortages develop and the real cost of housing increases." Do the numbers back Anderson's claims? Of course they do.
For two decades California State University, Sacramento, and the Sacramento Regional Research Institute looked into the effects of rent control in Santa Monica and Berkeley.
Biden's latest rent control scheme is not his lone effort to skew the market through government overreach.
A little more than a year ago the administration announced "New actions to increase fairness in the rental market and further principles of fair housing." While not setting a national rent control policy, the executive order directed the federal government to become "Involved in numerous facets of property leasing, including limiting rent increases and regulating ways property owners can deal with their tenants who are arrears on their rent or damage their property," says Anderson.
https://issuesinsights.com/2024/04/12/biden-bombs-his-own-country/
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