>Rent control never takes away any supply. Why would I build a new apartment building if it was going to be rent-controlled? Why would I rent my units if they

>Rent control never takes away any supply. Why would I build a new apartment building if it was going to be rent-controlled? Why would I rent my units if they were going to be rent controlled? There's evidence that the availability of rentable spaces decreases in the presence of rent control. These policies have had an effect on supply. If I can't afford a down payment, and I also can't get rent control (because of the length of the waitlist), it's much more difficult for me to find an apartment to rent even though the number of buildings is still the same. >that same person would still need the same amount of housing (presumably even in the same unit). Rent control can actually cause people to stay in a larger or smaller apartment than they actually need. If I have to give up rent control to move, why would I do that? I'm incentivized to stay in an apartment regardless of whether or not it's the right size. I could have needed that two bedroom flat when I was raising a family, but now that my family has left I don't need the space. However, rent control means that it's actually comparatively cheaper for me to stay in a large space. >The problem is not rent control, the problem is a lack of enough rent control. If rent control was universal (applied to 100% of rental units) then most of the perceived problems with it would vanish overnight. Price controls reduce the incentive to produce rentable units. It's the reason that price controls tend to result in shortages; why would I produce a price-controlled unit if I can't make a profit on it? Why would I continue renting a unit if there's a chance it gets rent controlled? Most studies I've seen have indicated that when rent control is implemented, the number of rentable units decreases. I suppose the argument could be made that renting is itself a bad thing, and that converting all rentable apartments to units that can be purchased is a good thing. I could see that argument. > Rent control does not give people the ability to reserve lots of housing units indefinitely, and rent control doesn't actually distribute or redistribute anything. In practice, rent control functions much like my analogy. If I'm in a rent-controlled apartment, I'm unlikely to leave. Why would I, especially when my rent won't change significantly if I stay? I can't get a better deal elsewhere. It also means that the landlord is unlikely to want to rent that apartment again when I leave, because they're uninterested in getting rent-controlled.