
3) Science also tells us that rent controls not only limit new supply, but also lead to removal of existing supply -- New York being a case in point. pic.twitter.com/oYgFcyyqPu
— Jay Parsons (@jayparsons) March 23, 2022
4) Science also tells us rent control provides benefit to a share of households but at enormous costs-- one being inability to fund maintenance. Rent control often leads to poorly maintained, outdated housing -- and battles between tenants and landlords over upkeep. pic.twitter.com/KR3WDMxhdV
— Jay Parsons (@jayparsons) March 23, 2022
5) One important note that is often overlooked: Rent control primarily benefits wealthier households who do not need the benefit. Case in point: Fmr NYC Mayor Ed Koch for decades kept a $475/mo bargain in high-end Greenwich Village, which meant...https://t.co/3puoVH6nya
— Jay Parsons (@jayparsons) March 23, 2022