Rent Stabilization Could Hurt Renters
AIER
The AIER argues that capping rents, whether referred to by advocates as “rent stabilization” or “rent control,” does not benefit renters. If the government passes a law limiting rent increases to a certain percentage annually, it may lead to people wanting to rent at the capped rate, resulting in a significant decrease in the number of units available for rent. This makes it even more challenging for young people and workers looking to move to the area to find a place to rent. Rent caps may also encourage apartment owners to cut back on maintenance, resulting in lower-quality units. Instead of imposing rent caps, cities and states should focus on increasing the supply of housing. When the supply increases, rents will come down, making it more affordable for everyone.
