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Home – Political Commentary & Opinion – Rent Control—Still Doesn’t Work

Rent Control—Still Doesn’t Work

In 2022, politicians in Minneapolis and St. Paul voted for rent control.

I said that would lead to bigger problems.

My update video reveals what happened.

St. Paul politicians pushed rent control, saying rent caps would stop “unfair profiteering.”

But what the heck is “profiteering,” and how is it different from “profit”? Who decides what is “unfair”?

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The opportunity for profit is what persuades people to invest in things. And build things. If enough people invest in new housing, rents will stop shooting up.

That’s just how markets work.

It’s why studies show that rent control reduces the supply of housing and gradually raises prices.

But activists don’t pay attention to those.

“We don’t need more studies,” says one in my video. “We need action.”

St. Paul’s actions were strict—its rent control law made no allowance for inflation.

“It’s just going to shut down construction,” said Mercatus Center economist........

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