EXTRA: Why Rent Control Doesn’t Work (Update)

A new proposal from the Biden administration calls for a nationwide cap on rent increases. Economists think that’s a terrible idea. We revisit a 2019 episode to hear why.   SOURCES: Tommy Andersson , professor of economics at Lund University. Vicki Been , professor of law at New York University and former deputy mayor for housing and economic development in New York City. Rebecca Diamond , professor of economics at Stanford Graduate School of Business. David Eisenbach , history lecturer at the Manhattan School of Music and Columbia University. Ed Glaeser , professor of economics at Harvard University.   RESOURCES: " The State of the Nation's Housing 2024 ," by the Joint Center for Housing Studies of Harvard University (2024). “ The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco ,” by Rebecca Diamond, Tim McQuade, and Franklin Qian ( American Economic Review , 2019). “ Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts ,” by David H. Autor, Christopher J. Palmer, and Parang A. Pathak ( Journal of Political Economy , 2014). “ An Econometric Analysis of Rent Control ,” by Edgar O. Olsen ( Journal of Political Economy , 1972). Roofs or Ceilings?: The Current Housing Problem , by Milton Friedman and George J. Stigler (1946). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.