Well, a new survey for the Kent A. Clark Center for Global Markets confirms this is all received wisdom among academics. We don’t need to analyze the results in detail here because the aggregated responses of the 45 economists are crystal clear in their conclusions. Economists overwhelmingly think the Biden-Harris plan wouldn’t make Americans better off or reduce inequality, but would substantially reduce the supply of properties available for rent.
Economists Reject Biden-Harris Rent Control Plan
Ryan Bourne and Sophia Bagley
We recently examined a damning meta-analysis of the effects of rent control laws. Last week, we warned that Joe Biden’s proposal to cap rent increases of corporate landlords at 5 percent per year would have some of these deleterious consequences.
There’s a great chapter on the economics of rent control in The War on Prices that explores these issues in more detail.