If other studies have not proven in the past, this new study, targets all the points that RSA has made in the past: rent control ultimately hurts the housing supply.
As the students in this study learn, rent control could be very harmful to neighborhoods. In the end, the strongest argument against rent control is that there are better ways to protect vulnerable renters.
With all the talks of the lack of affordable housing in New York City, California’s housing woes far exceeds the crisis in our city. But just like in California, local politicians in New York City still cannot figure out a solution that will increase affordable housing, and rent control certainly does not help the issue.
According to this article in Forbes, “rent control delivers tenants benefits through lower rents, but in the long-run, affordable housing actually shrinks and the losses far outweigh the gains.” This statement could not be any more accurate. New York City elected officials should take note.