Arguments Against
Writing in 1946, economists Milton Friedman and George J. Stigler said: "Rent ceilings, therefore, cause haphazard and arbitrary allocation of space, inefficient use of space, retardation of new construction and indefinite continuance of rent ceilings, or subsidization of new construction and a future depression in residential building." Although those paying lower than market rent are "protected," most economists argue that newer residents actually pay higher rent due to reduced supply.
In a 1992 stratified, random survey of 464 economists and economics graduate students in the US, 76.3% generally agreed that " ceiling on rents reduces the quantity and quality of housing available."
Read more about this topic: Rent Control
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