A piece in last Thursday’s New York Times investigates growing calls for rent control in cities across California, along with repealing the Costa-Hawkins Act, which limits the ability of cities to enact rent control ordinances. But as the article points out, “Economists across the ideological spectrum have found that rent control protects entrenched tenants but raises prices for future renters.”
It’s easy to blame “greedy landlords” but in my opinion housing affordability will only improve when the supply side of the equation is also addressed. And that means making it easier and for developers to build denser housing. Not surprisingly, most people are NIMBY’s when it comes to that prospect.