The problem is that the side effects of rent caps and hard development limits have produced so many poor results. Rent control in New York has worked poorly. T

The problem is that the side effects of rent caps and hard development limits have produced so many poor results. Rent control in New York has worked poorly. The result is a few select people pay a fraction of what everyone else pays. Development difficulties have created San Francisco's crazy, crazy prices. In Australia restrictive planning has contributed substantially to making the Sydney median price 1M AUD for a free standing house with 10km of the CBD. In London restrictive planning has contributed to crazy, crazy prices. Meanwhile in Houston, with vastly fewer rules, houses are affordable for low income families.