2024-07-29
48 分钟A new proposal from the Biden administration calls for a nationwide cap on rent increases. Economists think that’s a terrible idea. We revisit a 2019 episode to hear why.
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In 2019, we put out an episode about a problem and a possible solution.
The problem was rising rents, particularly in coastal cities.
The proposed solution was rent control laws that put a limit on what landlords can charge.
You can see why that might seem to be a sensible solution.
But nearly all economists agree, based on volumes of research, that rent control does more harm than good.
Since we made that episode, the problem has gotten worse.
According to a report from Harvard's Joint center for Housing Studies, rents have risen 26% nationally, and even more in cities like New York, which has become the poster child for the rent crisis.