Editorial: The Predictable Consequences of Rent Control
The Las Vegas Review-Journal editorial board cites the negative impacts of rent control in urging Nevada lawmakers to avoid the flawed policy.
Despite being dismissed as a destructive gimmick by most serious economists, rent control is making a comeback in progressive circles. Lawmakers in New York, California and Oregon this year either expanded or created programs that impose limits on how much landlords may charge for the use of their property.
“Decades of bipartisan research,” Mr. Malanga wrote, “tell us that controls on rent suppress real estate values, diminish property taxes and reduce investments in housing.” All at the expense of “affordable housing” and the downtrodden.
Rent control is a monument to wishful thinking, not to mention an assault on private property. Nevada lawmakers inclined to resurrect the issue in 2021 shouldn’t be taken seriously when they claim to be acting out of concern for the disadvantaged. They’re pandering for votes, pure and simple.
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