Rent control, really?

 WSJ:  

By limiting supply, rent control leads to "housing shortages, underinvestment, tenant discrimination or falling property values." The most recent evidence comes from Argentina.

Since the law’s repeal, supply has reportedly rebounded and prices have fallen by double digits.

As Swedish economist Assar Lindbeck observed, “In many cases rent control appears to be the most efficient technique presently known to destroy a city—except for bombing.” No matter how many times we try, we can’t outsmart economic first principles.

BUT,

Rent control is in vogue among Democrats. President Biden in July proposed capping landlords’ annual increases at 5%, and Kamala Harris vowed to “take on corporate landlords and cap unfair rent increases.”