Perverse Logic of Rent Control

-edited

Everywhere rent control has been tried, it's been a failure. Nonetheless, Illinois politicians want their turn.

Rent control and housing shortages go hand in hand. Why build if the government gets to set prices for you?

Mark Glennon at Wirepoints hits the nail squarely with his piece Rent Control Would Intensify Housing Crisis.

A Chicago Democratic lawmaker's second attempt at eliminating Illinois' rent-control ban would predictably worsen the state's housing crisis – or solve it in a negative way – the founder of an online news outlet said during a recent interview.

"If you want to see the supply of housing plummet, pass rent control laws," Wirepoints founder and executive editor Mark Glennon said in an email interview with Chicago City Wire. "Ironically, maybe there's some perverted logic to that. We won't be needing much housing in Illinois if crazy ideas like this continue to drive people out of Illinois."

Glennon's comments followed Rep. Will Guzzardi's (D-Chicago) introduction last month of House Bill 255 to repeal the the Illinois Rent Control Preemption Act of 1997. As its name implies, the state's rent-control ban bars the state's municipalities from enacting laws to control rent on residential or commercial property.

Why Not?

Illinois is so totally screwed already. Why not let socialists put on the finishing touches?

Mike "Mish" Shedlock

Comments
No. 1-20
Carl_R
Carl_R

Mark Glennon has it right. This is perfect for Illinois. As they drive people out with taxes, there need some housing to go away, too. Of course, rent control will also crush the value of real estate, which in turn will crush property tax receipts, but they can always increase the rates even more, I suppose.

2banana
2banana

Like in all socialist societies...

Socialist programs benefit those in power and friends of those in power.

For the rest of the masses? You better vote the right and not cause any political problems or your name goes to the bottom of the list.

SMF
SMF

Hmm...rent controlled cities are where some of the most expensive real estate exists. No one correlates one or the other, even when the evidence slaps them in the face.

AWC
AWC

So, who votes for this nonsense? Oh, I forgot, they have been voting themselves largess from the public trough for years. Now the bill comes due. Alligator tears?

Unfortunately, the Feds will ultimately bail out the spendthrifts, plopping the bill on the doorsteps of those who live within their means. Redistribution,,,, it's the American way.

thimk
thimk

Insanity: doing the same thing over and over again and expecting different results.