>Absent rent control, the lower bound of prices would go up, the ceiling would not go down. Pretty vapid statement. The ceiling is whatever the arbitrary askin

>Absent rent control, the lower bound of prices would go up, the ceiling would not go down. Pretty vapid statement. The ceiling is whatever the arbitrary asking price is for something overlooking central park on the 100th floor of some high rise. Nobody cares about the ceiling. The question is what does it do to the market price in general for a specific size apartment. It will cause a price decline because so many more apartments will actually be on the market. The current price is where supply is meeting demand so if you increase the supply the price will decline. Of course it will screw up the people on rent control since they likely won't be able to afford it.