Rent control expands as tenants struggle with the record-high cost of housing

most everywhere. Lapides says capping rents does not add to the housing stock, discourages developers from building in that market, and over the longer term can actually lead to fewer affordable units.

That's the dilemma landlord Brit Vitalius is facing in Maine, now that Portland voters approved a ballot measure to tighten that city's rent cap to 70% of the consumer price index — a rough measure of inflation. Vitalius heads the Rental Housing Alliance of Southern Maine and also rents out 30 places.He expects to keep renting; Portland's new measure imposes a $25,000 fee if landlords convert property to a condo.

On the other side of the country, voters in Pasadena, Calif., also passed rent control, along with measures to make it harder to evict people.

I guess we just need to build a ton of public housing and pass over the rent-seeking developers. Eesy peesy.

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Rent control expands as tenants struggle with the record-high cost of housingVoters in several cities approved ballot measures for rent control. But economists warn that such rent caps can actually reduce overall affordable housing — and may not help those who need it most. The BEST 'Rent Control' is home ownership...prove me wrong. defundNPR Really don't need to be an economist to understand that price caps create shortages
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