Rent Control: Wrong Prescription Then, Wrong Prescription Now
A recent blog post by Growing Homes Together, emphatically reiterated points that have been made multiple times by the multifamily housing industry:
Congress should create an Emergency Rental Assistance Program for those who have been impacted by the crisis and do not already receive federal housing subsidies. Additionally, mortgage forbearance protections should be expanded to match any eviction moratoriums to help property owners maintain their residences.
A recent study by ECONorthwest found that rent control in Washington State would be counterproductive, and a 2019 study by the National Apartment Association also discovered that rent control results in less construction of housing and lower tax revenues for cities.
Lorne Polger, senior managing director of Pathfinder Partners also authored a piece on the fallacy of rent control and why it fails to produce affordable housing.