Tag: Rent Control

“So now you know why economists are useless: when they actually do understand something, people don’t want to hear about it” Paul Krugman, on economists’ consensus view of rent control

Most economists rail against rent control.  Rent control distorts the real estate markets.  Individuals in rent controlled apartments are receiving ‘rents’ (in the economic sense) because they live in higher quality apartments than they are paying for.  In addition, it provides them a strong incentive to stay in their apartment even if they would prefer…