Why Rent Control Doesn’t Work (Ep. 373 Rebroadcast)
Mar 12, 2020
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Rebecca Diamond, a Stanford economist focused on rent control effects, joins Ed Glaeser, a Harvard expert in city economics, to dissect the complexities of rent control. They argue that while rent control seems beneficial for some renters, it actually leads to artificially high rents and discourages new construction. The duo analyzes the political landscape surrounding these policies and explores the severe housing shortages it creates in cities like Stockholm, revealing a black market for housing as a direct consequence.
As cities become ever-more expensive, politicians and housing advocates keep calling for rent control. Economists think that’s a terrible idea. They say it helps a small (albeit noisy) group of renters, but keeps overall rents artificially high by disincentivizing new construction. So what happens next?
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