Page 33 - amm1

HOW RENT CONTROL MAKES HOUSING LESS AFFORDABLE:
CMARKET-BASED RENTS WILL INCREASE HOUSING SUPPLY, IMPROVING QUALITY, EXPANDING CHOICE, AND LOWERING COSTS
By Roger Valdez, The Center for Housing Economics
OVID-19 related job loss—and the When people in the United States talk about the crisis resulting loss of income for many in affordable housing, they’re really talking about people—has spurred state and the price of housing. That is to say, housing is too local governments bring back an expensive for people who earn less money. If we old policy solution: the imposition want every American to be able to afford a safe and of eviction bans and rent controls. healthy place to live, we need to understand why we From a political standpoint, it’s not haven’t gotten there yet. Barriers to the market for surprising. Price controls can be people who need housing — and high production
both popular and widely accepted in a crisis. However, costs that restrict supply— have led to higher housing what starts as a short-term intervention can become prices. The evidence is clear: enabling the private a medium-term expectation—and then a permanent, sector to produce as much housing in as many places ossified mandate—with entrenched special-interest as possible creates both more competition and constituencies. Now, more than ever, we need to carefully innovation. That competition and innovation, in turn, consider how to make housing more affordable. improves quality, expands choice, and lowers costs.
Please turn to page CS-13
APARTMENT MANAGEMENT MAGAZINE - APRIL 2022 CS-11