Housing policies from "summary" of Economic Facts and Fallacies by Thomas Sowell
Housing policies are often put forward with the laudable goal of making housing more affordable for low-income individuals. However, the unintended consequences of such policies are often overlooked. For instance, rent control may initially seem like a solution to rising housing costs, but it can actually exacerbate the problem in the long run. When rent control is imposed, landlords have less incentive to maintain their properties or build new ones, leading to a decrease in the overall quality and quantity of housing available. This can ultimately result in a shortage of housing, driving up prices even further. In addition, rent control can create inefficiencies in the housing market by distorting the allocation of resources and discouraging investment in housing development. Another common housing p...
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