National rent control will make the housing crisis worse — here’s why
The Federal Housing Finance Agency is being urged to require rent control on any properties with mortgages backed by government-sponsored enterprises like Fannie Mae and Freddie Mac. That could affect 12 million apartments nationally. Instead of helping those who need housing, rent control is a disincentive for developers. It tends to delay necessary maintenance and repairs and it disproportionately benefits upper-income, white renters and gives them reason to stay in their units. This makes markets more competitive because fewer units are turned over. This isn’t theoretical: real-world case studies prove rent control isn’t a solution to the housing crisis locally, so it stands to reason it would be a disaster nationally. Elected officials need to champion logical fixes like less red tape to spur building and targeted rental assistance to those in need via tax credits.
