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Another Brilliant Progressive Policy

By August 5, 2022Commentary

There is absolutely nothing that the whacko woke progressives support that improves people’s lives.  The only thing they are good at is euphemisms, making up words that sound good to describe the awful outcomes of those policies.  Like “progressive”.  Here is a paper exposing the flaws of “rent control”, which in reality should be called “make housing less available and less affordable for poor people”.  That is the real effect of the policy.  It examines the typical stupid attempts at rent control, in this case in St. Paul, part of the lovely metro area governed by insanity where I live.  St. Paul’s law is particularly inane, the very worst possible rent control law.

The city’s rent-control law caused property values to fall by over 6%, for an aggregate loss of $1.7 billion.  The tenants who “gained” from rent control were mostly white and higher income.  The owners who lost the most income were largely minorities and lower income.  The intended transfer of wealth from high-income owners to low-income tenants actually came to zero dollars.  Another wonderful policy that makes no sense, but what else would you expect from people who are ruled by ideology and have no real world experience at anything.  (NBER Study)

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