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by bko 2561 days ago
Freezing rents to fight increasing costs makes as much sense as limiting the maximum reading on thermometers to fight increasing temperatures.

Prices aren't just arbitrary numbers attributed to goods. They convey information. Information that cannot be captured by any one group alone. That's the point of prices.

Freezing rents will create a lot of unintended consequences, as price controls normally do. I imagine that apartments would be poorly maintained as landlords won't need to attract new tenants. Many people will illegally sublet their homes and capture market rents. Landlords will be suspicious and begin treating their tenants with contempt. Investment in building real estate will reduce considerably. The city would be less vibrant and it will be harder to attract young talent or new businesses.

1 comments

Freezing rents to fight increasing costs makes as much sense as limiting the maximum reading on thermometers to fight increasing temperatures.

You realize that, logically speaking -- there's no analogy to be made here.

Right?