How has rent control worked in New York City? Exactly as textbooks would have predicted, according to this essay by William Tucker in the New York Post.

During the 1920s, builders put up nearly 100,000 new apartment units a year. Today we're lucky to get 5,000.

He points out that rent control leads to a vicious cycle, in which price controls create scarce supplies, which increases the political pressure for controls.
(via 'Jane Galt')

CATEGORIES: Price Controls

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Latest Comment

Tenants Association writes:

There are many people who would disagree with you.

For instance you can read Rent Control in New York and Rent Control from Canada.

Posted January 18, 2004 2:12 PM

Rent Control writes:

I have found EconLog to be extremely dogmatic in their very right wing views on all topics.

Posted January 23, 2004 8:03 AM

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