Rent control laws could be contributing to shortage of affordable housing

As the cost of housing in the U.S. has surged in recent years, movements have cropped up across the country seeking rent control measures in an effort to stabilize prices. However, such laws could be making the problem even worse. Despite warnings from economists, rent control is becoming more and more popular in progressive strongholds. Oregon led the charge in 2019 when the state imposed a cap on older units, and California followed suit in 2020. Since then, municipalities in Illinois, Colorado, Massachusetts and elsewhere are considering similar moves.

Source: https://www.foxbusiness.com/economy/rent-control-laws-contributing-shortage-affordable-housing