Rent control - Revision history

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Repoint 2 dead mises.org links to the archived original (automated; see Austrian Economics Wiki:Link repointing)

← Older revision		Revision as of 04:26, 16 August 2026
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	When prices are fixed and demand increases due to rising birth rates and immigration, as happened in New York City following the Second World War, fewer property owners will decide to invest in housing. The inevitable consequence will be fewer units for rent. Because investors realize a diminishing rate of return they must cut costs in order to remain in business. Building maintenance represents a large fixed cost, so there are incentives in reducing those expenditures. Deterioration soon follows as leaky faucets and torn carpets go unrepaired.		When prices are fixed and demand increases due to rising birth rates and immigration, as happened in New York City following the Second World War, fewer property owners will decide to invest in housing. The inevitable consequence will be fewer units for rent. Because investors realize a diminishing rate of return they must cut costs in order to remain in business. Building maintenance represents a large fixed cost, so there are incentives in reducing those expenditures. Deterioration soon follows as leaky faucets and torn carpets go unrepaired.

	In '''''A Critique of the Legal and Philosophical Case for Rent Control''''', Austrian economist [[Walter Block]] notes that rent control reduces tenant mobility<ref>[~~http~~://~~mises~~.org/~~etexts~~/~~rentcontrol.pdf~~ A Critique of the Legal and Philosophical Case for Rent Control] (pdf) by Walter Block, Journal of Business Ethics 40: 75–90, 2002</ref>. When an individual moves into an apartment and his rent becomes fixed at the present rate, he stands to have higher rates if or when he chooses to relocate. Because of this, individuals and families often stay in units for extended periods of time. This has the simultaneous effect of restricting labor markets by reducing the flow of labor into areas where demand is high.		In '''''A Critique of the Legal and Philosophical Case for Rent Control''''', Austrian economist [[Walter Block]] notes that rent control reduces tenant mobility<ref>[https://freecapitalists.org/books/a-critique-of-the-legal-and-philosophical-case-for-rent-control/ A Critique of the Legal and Philosophical Case for Rent Control] (pdf) by Walter Block, Journal of Business Ethics 40: 75–90, 2002</ref>. When an individual moves into an apartment and his rent becomes fixed at the present rate, he stands to have higher rates if or when he chooses to relocate. Because of this, individuals and families often stay in units for extended periods of time. This has the simultaneous effect of restricting labor markets by reducing the flow of labor into areas where demand is high.

	==Cities with Rent Control==		==Cities with Rent Control==
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	\|pages=75-90		\|pages=75-90
	\|doi=10.1023/A:1019952703506		\|doi=10.1023/A:1019952703506
	\|url=~~http~~://~~mises~~.org/~~etexts~~/~~rentcontrol.pdf~~		\|url=https://freecapitalists.org/books/a-critique-of-the-legal-and-philosophical-case-for-rent-control/
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-'''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has led to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.{{Fact}}
+''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has led to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.{{Fact}}
 ==Consequences==
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 Note: New Jersey has more than one hundred cities which impose rent control.
 ==References==
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 * [http://www.fee.org/the_freeman/detail/the-folly-of-rent-control The Folly of Rent Control] by James A. Maccaro, January 1990
 * [http://www.fee.org/the_freeman/detail/three-fallacies-of-rent-control Three Fallacies of Rent Control] by Robert Batemarco, June 1997
 * {{wplink}}
 [[Category: Economic concepts]]
 {{Stub}}

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	'''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has ~~lead~~ to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.		'''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has led to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.{{Fact}}

	==Consequences==		==Consequences==

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	==Links==		==Links==
			* [http://www.fee.org/the_freeman/detail/rent-my-flat-black-market-edition Rent My Flat (Black Market Edition)] by Andrew Heaton, August 2013
			* [http://www.fee.org/the_freeman/detail/how-rent-controls-hurt-the-poor How Rent Controls Hurt the Poor] by Allan Brownfield, March 1975
			* [http://www.fee.org/the_freeman/detail/rent-control-and-the-penultimate-solution Rent Control and the Penultimate Solution] by Scott Gardner, June 1993
			* [http://www.fee.org/the_freeman/detail/the-folly-of-rent-control The Folly of Rent Control] by James A. Maccaro, January 1990
			* [http://www.fee.org/the_freeman/detail/three-fallacies-of-rent-control Three Fallacies of Rent Control] by Robert Batemarco, June 1997
	* {{wplink}}		* {{wplink}}

	[[Category: Economic concepts]]		[[Category: Economic concepts]]
	{{Stub}}		{{Stub}}

Jérôme Alexandre: /* Bibliography */ Rent Control: Myths & Realities

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Bibliography: Rent Control: Myths & Realities

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Jérôme Alexandre: /* Bibliography */ The Concise Encyclopedia of Economics

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Bibliography: The Concise Encyclopedia of Economics

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 |doi=10.1023/A:1019952703506
 |url=http://mises.org/etexts/rentcontrol.pdf
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Jérôme Alexandre: Bibliography

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Bibliography

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 ==References==
 {{Reflist}}
 ==Links==

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	~~==Summary==~~

	'''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has lead to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.		'''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has lead to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.


	==Consequences==		==Consequences==

	In a free market, prices adjust based on the relationship of supply and demand. When demand for housing increases, the prices for housing also tend to rise, both in buildings for sale, as well as rental units. The increased prices send a signal to entrepreneurs that higher profits can be had in building new housing or converting existing buildings. In turn, prices will trend downward as new units become available.		In a free market, prices adjust based on the relationship of supply and demand. When demand for housing increases, the prices for housing also tend to rise, both in buildings for sale, as well as rental units. The increased prices send a signal to entrepreneurs that higher profits can be had in building new housing or converting existing buildings. In turn, prices will trend downward as new units become available.


	When prices are fixed and demand increases due to rising birth rates and immigration, as happened in New York City following the Second World War, fewer property owners will decide to invest in housing. The inevitable consequence will be fewer units for rent. Because investors realize a diminishing rate of return they must cut costs in order to remain in business. Building maintenance represents a large fixed cost, so there are incentives in reducing those expenditures. Deterioration soon follows as leaky faucets and torn carpets go unrepaired.		When prices are fixed and demand increases due to rising birth rates and immigration, as happened in New York City following the Second World War, fewer property owners will decide to invest in housing. The inevitable consequence will be fewer units for rent. Because investors realize a diminishing rate of return they must cut costs in order to remain in business. Building maintenance represents a large fixed cost, so there are incentives in reducing those expenditures. Deterioration soon follows as leaky faucets and torn carpets go unrepaired.

			In '''''A Critique of the Legal and Philosophical Case for Rent Control''''', Austrian economist [[Walter Block]] notes that rent control reduces tenant mobility<ref>[http://mises.org/etexts/rentcontrol.pdf A Critique of the Legal and Philosophical Case for Rent Control] (pdf) by Walter Block, Journal of Business Ethics 40: 75–90, 2002</ref>. When an individual moves into an apartment and his rent becomes fixed at the present rate, he stands to have higher rates if or when he chooses to relocate. Because of this, individuals and families often stay in units for extended periods of time. This has the simultaneous effect of restricting labor markets by reducing the flow of labor into areas where demand is high.
	In '''A Critique of the Legal and Philosophical Case for Rent Control''', Austrian economist Walter Block notes that rent control reduces tenant mobility<ref>~~.Reference~~[http://mises.org/etexts/rentcontrol.pdf] A Critique of the Legal and Philosophical Case for Rent Control by Walter Block Journal of Business Ethics 40: 75–90, 2002</ref>. When an individual moves into an apartment and his rent becomes fixed at the present rate, he stands to have higher rates if or when he chooses to relocate. Because of this, individuals and families often stay in units for extended periods of time. This has the simultaneous effect of restricting labor markets by reducing the flow of labor into areas where demand is high.


	==Cities with Rent Control==		==Cities with Rent Control==
			Currently four U.S. States, and the District of Columbia, have cities or municipalities which impose rent control measures<ref>[http://www.landlord.com/rent_control_laws_by_state.htm Landlord.com website], last accessed 09-20-2011</ref>. Major U.S. cities include: Los Angeles, Oakland, and San Francisco in CA; College Park, MD; and New York City, Albany, and Buffalo in NY.

	Currently four U.S. States, and the District of Columbia, have cities or municipalities which impose rent control measures<ref>.Reference[http://www.landlord.com/rent_control_laws_by_state.htm] Landlord.com website last accessed 09-20-2011</ref>. Major U.S. cities include: ~~Los Angeles, Oakland, and San Francisco in CA; College Park, MD; and~~ New ~~York City, Albany, and Buffalo in NY.~~		Note: New Jersey has more than one hundred cities which impose rent control.

	~~Note: NJ~~ has more than one hundred cities which impose rent control.

	==References==		==References==
	{{Reflist}}		{{Reflist}}

			==Links==
			* {{wplink}}

			[[Category: Economic concepts]]
			{{Stub}}

Joel.poindexter: Created page with "==Summary== '''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lowe..."

2011-09-20T20:10:55Z

Created page with "==Summary== '''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lowe..."

New page

==Summary==

'''Rent control''' refers to the fixing of a ceiling on residential rental rates within a particular legal jurisdiction. The practice is meant to aid those with lower incomes in finding and keeping affordable housing. Like other forms of [[central planning]], such as the minimum wage, rent control has lead to numerous unintended consequences including shortages of residential rental properties, the rapid deterioration of residential apartment buildings, and urban blight.

==Consequences==

In a free market, prices adjust based on the relationship of supply and demand. When demand for housing increases, the prices for housing also tend to rise, both in buildings for sale, as well as rental units. The increased prices send a signal to entrepreneurs that higher profits can be had in building new housing or converting existing buildings. In turn, prices will trend downward as new units become available.

When prices are fixed and demand increases due to rising birth rates and immigration, as happened in New York City following the Second World War, fewer property owners will decide to invest in housing. The inevitable consequence will be fewer units for rent. Because investors realize a diminishing rate of return they must cut costs in order to remain in business. Building maintenance represents a large fixed cost, so there are incentives in reducing those expenditures. Deterioration soon follows as leaky faucets and torn carpets go unrepaired.

In '''A Critique of the Legal and Philosophical Case for Rent Control''', Austrian economist Walter Block notes that rent control reduces tenant mobility<ref>.Reference[http://mises.org/etexts/rentcontrol.pdf] A Critique of the Legal and Philosophical Case for Rent Control by Walter Block Journal of Business Ethics 40: 75–90, 2002</ref>. When an individual moves into an apartment and his rent becomes fixed at the present rate, he stands to have higher rates if or when he chooses to relocate. Because of this, individuals and families often stay in units for extended periods of time. This has the simultaneous effect of restricting labor markets by reducing the flow of labor into areas where demand is high.

==Cities with Rent Control==

Currently four U.S. States, and the District of Columbia, have cities or municipalities which impose rent control measures<ref>.Reference[http://www.landlord.com/rent_control_laws_by_state.htm] Landlord.com website last accessed 09-20-2011</ref>. Major U.S. cities include: Los Angeles, Oakland, and San Francisco in CA; College Park, MD; and New York City, Albany, and Buffalo in NY.

Note: NJ has more than one hundred cities which impose rent control.

==References==
{{Reflist}}