Chicago Business: A better solution than rent control
Doug Imber, president of Essex Realty Group and director of the Rogers Park Builders Group, pushes back against shortsighted rent control proposals in the legislature.
First, the consequence of placing legislated caps on rents would be that developers would materially cease building new apartments. This, of course, would only make the problem worse.
Second, implementing rent control places the responsibility of solving the affordable housing problem on a select group of business people—apartment building owners. This is like requiring just grocery stores and restaurants to pay for school lunch programs.
Both are serious issues, but the solutions must be shouldered by everyone and not merely the responsibility of a select group of business people.
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