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).
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