Study Says Rent Control Has Benefits that Economists do not Account For

Previous studies of the impact of rent control have focused on such negative effects as reduced housing supply and increased market rents. A new Columbia Business School study, though, argues that opponents of rent control are missing a key benefit: reduced fear for low-income workers that loss of a job will lead to loss of a home.

The study’s author says that rent control policies in New York City would work better if they were more narrowly targeted to poorer residents, who benefit more from the increased security of a guaranteed low-rent home. He also advocates establishing a system where people would have to re-qualify for rent control every few years.

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