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The classic objective is to limit the price that would result from the market, where an&nbsp;[https://en.wikipedia.org/wiki/Inequality_of_bargaining_power inequality of bargaining power]&nbsp;between&nbsp;[https://en.wikipedia.org/wiki/Landlord landlords]&nbsp;and&nbsp;[https://en.wikipedia.org/wiki/Leasehold_estate tenants]&nbsp;produces continually escalating prices without any stable&nbsp;[https://en.wikipedia.org/wiki/Market_equilibrium market equilibrium]."<br/> - Wikipedia, "Rent regulation."&nbsp;
 
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== <br/> Price regulation variant forms ==
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== References ==
 
*Ambrosius, Joshua D. et al [2015].&nbsp;“Forty years of rent control: Reexamining New Jersey’s moderate local policies after the great recession,” Cities, 49, pp. 121–133.&nbsp;December 2015.&nbsp;[https://doi.org/10.1016/j.cities.2015.08.001 https://doi.org/10.1016/j.cities.2015.08.001].<br/> &nbsp;
*Arnott, Richard. “[https://www.aeaweb.org/articles?id=10.1257/jep.9.1.99 Time for Revisionism on Rent Control?]” The Journal of Economic Perspectives, 1995: Vol. 9, №1: 99–120.<br/> [https://www.aeaweb.org/articles?id=10.1257/jep.9.1.99 https://www.aeaweb.org/articles?id=10.1257/jep.9.1.99].<br/> Abstract: "Economists' traditional hostility to rent contols is based on models that treat the housing market as perfectly competitive and on the experience with 'hard' controls in New York City and many European countries following World War II. The current 'soft' rent control systems in North America are varied and qualitatively different from earlier hard controls. The theoretical case against them is weak, particularly when the housing market is viewed as imperfectly competitive. The empirical case against them is weak, too. Economists should reconsider their blanket opposition to current rent control systems and evaluate them on a case-by-case basis."<br/> &nbsp;
*Autor, D.H. , and C J Palmer, P A Pathak [2014]. "[https://doi.org/10.1086/675536 Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts]." Journal of Political Economy, volume 122, p. 661-717. June 2014<br/> [https://doi.org/10.1086/675536.  https://doi.org/10.1086/675536.&nbsp;]<br/> &nbsp;
*Barton, Stephen. "[http://dollarsandsense.org/archives/2019/0119barton.html The Economics of Residential Rent Control]." Dollars and Sense, Jan/Feb 2019. [http://dollarsandsense.org/archives/2019/0119barton.html http://dollarsandsense.org/archives/2019/0119barton.html].<br/> &nbsp;
*Chew, &nbsp;Amee, and Sarah Treuhaft. "Our Homes, Our Future: How Rent Control Can Build Stable, Healthy Communities." PolicyLink, February 2019. [https://www.policylink.org/resources-tools/our-homes-our-future.  https://www.policylink.org/resources-tools/our-homes-our-future.&nbsp;]
 
''"Multiple longitudinal studies of rent control in New Jersey have found no discernible impact on construction rates.<sup>(73)</sup> After the repeal of rent control in Boston, construction rates decreased for multifamily buildings, even as rents nearly doubled in eight years.<sup>(74)</sup>''
 
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**11 October, 2017. NBER working paper.&nbsp;[http://conference.nber.org/confer//2017/PEf17/Diamond_McQuade_Qian.pdf http://conference.nber.org/confer//2017/PEf17/Diamond_McQuade_Qian.pdf].
**29 November 2017 version. [https://drive.google.com/open?id=13pzS8XOAHXgvWdT6ddeoFy123Y_hoJ4y PDF].&nbsp;<br/> &nbsp;
 
 
*Early, Dirk, and Jon Phelps (1999). &nbsp;"Rent Regulations' Pricing Effect in the Uncontrolled Sector: An Empirical Investigation." Journal of Housing Research: 1999, Vol. 10, No. 2, pp. 267-285. DOI: 10.5555/jhor.10.2.j11873517nq95773. &nbsp;<br/> &nbsp;
*East Bay For Everyone. "[https://www.scribd.com/document/350029454/Ab-1506-Support#from_embed RE: AB 1506 - Residential Rent Control: Costa-Hawkins Rental Housing Act.]" (letter). 2017.&nbsp;[https://www.scribd.com/document/350029454/Ab-1506-Support#from_embed https://www.scribd.com/document/350029454/Ab-1506-Support#from_embed].<br/> &nbsp;
*Favilukis, Jack Y and Mabille, Pierre and Van Nieuwerburgh, Stijn. "[https://ssrn.com/abstract=3265918 Affordable Housing and City Welfare]." (May 24, 2019). Columbia Business School Research Paper No. 18-77. &nbsp;Available at SSRN: [https://ssrn.com/abstract=3265918 https://ssrn.com/abstract=3265918] or [http://dx.doi.org/10.2139/ssrn.3265918 http://dx.doi.org/10.2139/ssrn.3265918].
 
''"We model rent control (RC) as mandatory inclusionary housing, a policy that requires developers to set aside a fraction of rental housing to low-income households at below market rates and is allocated by lottery. "''
 
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''"Direct measurement on the number of mandatory inclusionary housing units is not available. Nor is it appropriate given that there are many more af- fordable housing units from a range of programs. We de ne RC housing as all housing units that are (i) rent controlled, (ii) public housing, (iii) Mitchell Lama housing, (iv) all other government-assisted or regulated housing."''
 
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Gilderbloom, John I. [1981]. "Moderate Rent Control: Its Impact on the Quality and Quantity of the Housing Stock." ''Urban Affairs Quarterly'' 17, no. 2 (Dec 1981).
 
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Gilderbloom, John I., and Richard P. Appelbaum. [1988]. ''Rethinking Rental Housing'' (Temple University Press, 1988).
 
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Gilderbloom, John I., and Lin Ye. [2007]. "[https://drive.google.com/open?id=1cBR_YmIhhljXBWF2nm2W09TOPBxQn6s3 Thirty Years of Rent Control: A Survey of New Jersey Cities]." Journal of Urban Affairs 29, no. 2 (2007): 207–20. DOI: [https://doi.org/10.1111/j.1467-9906.2007.00334.x https://doi.org/10.1111/j.1467-9906.2007.00334.x]. PDF: [https://drive.google.com/open?id=1cBR_YmIhhljXBWF2nm2W09TOPBxQn6s3 https://drive.google.com/open?id=1cBR_YmIhhljXBWF2nm2W09TOPBxQn6s3].
 
*Gordon, Leslie. “[http://urbanhabitat.org/sites/default/files/UH%202018%20Strengthening%20Communities%20Through%20Rent%20Control.pdf Strengthening Communities through Rent Control and Just-Cause Evictions: Case Studies from Berkeley, Santa Monica, and Richmond.]” Urban Habitat (Oakland, CA), January 2018.&nbsp;<br/> [http://urbanhabitat.org/sites/default/files/UH%202018%20Strengthening%20Communities%20Through%20Rent%20Control.pdf http://urbanhabitat.org/sites/default/files/UH%202018%20Strengthening%20Communities%20Through%20Rent%20Control.pdf].<br/> &nbsp;
*Heskin, Allan D., Ned Levine & Mark Garrett. “The Effects of Vacancy Control: A Spatial Analysis of Four California Cities.” ''Journal of the American Planning Association'', Volume 66, 2000 - Issue 2, Pages 162-176. DOI: 10.1080/01944360008976096.&nbsp;<br/> [https://doi.org/10.1080/01944360008976096 https://doi.org/10.1080/01944360008976096]<br/> ''“Abstract:&nbsp;<br/> This article examines changes between 1980 and 1990 in the number of rental units and the demographic composition of tenants in four California cities that adopted rent control with vacancy control provisions. Six border areas within the four cities were compared to border areas of adjoining cities that did not have vacancy control. A spatial lag regression model was constructed to estimate the changes in regional and neighborhood components in addition to vacancy control policies. Vacancy control contributed to lower rents and longer tenure by tenants compared to non-vacancy-controlled areas. There were also fewer rental units in part because of a shift from rental housing to owner-occupied housing.”''<br/> &nbsp;
*Initiative on Global Markets (at University of Chicago Booth School) [IGM 2012]. “[http://www.igmchicago.org/surveys/rent-control Rent Control]” [poll of economic experts].&nbsp;<br/> February 7th, 2012.&nbsp;[http://www.igmchicago.org/surveys/rent-control. http://www.igmchicago.org/surveys/rent-control.&nbsp;]<br/> ''Poll statement:&nbsp; “Local ordinances that limit rent increases for some rental housing units, such as in New York and San Francisco, have had a positive impact over the past three decades on the amount and quality of broadly affordable rental housing in cities that have used them.”&nbsp;<br/> 40 respondents.&nbsp;<br/> 0 Strongly Agree<br/> 2% Agree<br/> 7% Uncertain<br/> 49% Disagree<br/> 32% Strongly Disagree<br/> 2% No Opinion''<br/> &nbsp;
*Jenkins, Blair [2009]. "Rent Control: Do Economists Agree?" ''Econ Journal Watch'' [American Institute for Economic Research], Vol 6, No 1, January 2009. pp 73-112.&nbsp;<br/> [https://econjwatch.org/articles/rent-control-do-economists-agree https://econjwatch.org/articles/rent-control-do-economists-agree].<br/> &nbsp;
*Keating, Teitz, and Skaburskis, eds.&nbsp;''Rent Control: Regulation and the Rental Housing Market''.&nbsp;Center For Urban Policy Research, 1998.<br/> Available for online line from Internet Archive:&nbsp;[https://archive.org/details/rentcontrolregul00keat.  https://archive.org/details/rentcontrolregul00keat.&nbsp;]<br/> &nbsp;
*Kurtek, Sanela. "[https://torontoism.com/toronto-news/2017/12/rent-controls-toronto Why Rent Controls are Such a Problem for Toronto]."&nbsp;''Torontoism,&nbsp;''December 18, 2017.<br/> [https://torontoism.com/toronto-news/2017/12/rent-controls-toronto https://torontoism.com/toronto-news/2017/12/rent-controls-toronto].<br/> &nbsp;
*Legislative Analysts Office (California).&nbsp;[http://www.lao.ca.gov/ballot/2017/170629.pdf Review of proposed statutory initiative pertaining to rent control (A.G. File No. 17-0041)].&nbsp;12 Dec 2017. [http://www.lao.ca.gov/ballot/2017/170629.pdf http://www.lao.ca.gov/ballot/2017/170629.pdf].<br/> &nbsp;
*McFarlane, Alastair. “Rent stabilization and the long-run supply of housing.” Regional Science and Urban Economics, Volume 33, Issue 3, May 2003, Pages 305-333.&nbsp;DOI: 10.1016/S0166-0462(02)00031-5<br/> [https://doi.org/10.1016/S0166-0462(02)00031-5 https://doi.org/10.1016/S0166-0462(02)00031-5].<br/> ''"Abstract:&nbsp;<br/> This paper examines the impact of moderate rent controls on the construction and replacement of urban housing. It studies a common form of rent regulation that limits rent growth to below-market increases but permits landlords to set the base rent at free market levels and allows them to re-set rents when the incumbent tenant vacates, after which rents are re-controlled (‘vacancy decontrol–recontrol’).&nbsp;'''One of the primary insights is that neither the timing nor the density of construction is affected by rent stabilization when base rents are perfectly flexible. Allowing landlords to set the initial contract rent lets them capture the benefits to the renter of rent stabilization. Perfect capitalization of rent stabilization into a higher base rent provides the landlord with a free market rate of return and thus does not distort development activity.'''&nbsp;However, redevelopment of land will be hastened because rent stabilization complemented by vacancy decontrol–recontrol increases the difference between rents before and after redevelopment, increasing the opportunity costs of postponing redevelopment. Extensions include an analysis of other common rent regulations and the impact of rent stabilization on the urban rent gradient."''<br/> &nbsp;
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Montojo, Nicole, Stephen Barton, and Eli Moore, “Opening the Door for Rent Control: Toward a Comprehensive Approach to Protecting California’s Renters,” (Haas Institute for a Fair and Inclusive Society, 2018).&nbsp;<br/> [https://haasinstitute.berkeley.edu/opening-door-rent-control https://haasinstitute.berkeley.edu/opening-door-rent-control].
 
''"numerous empirical studies, as well as housing production trends in cities with rent control, show no negative effect on housing production." <sup>(111)(112)</sup>.''
 
''<sup>111</sup> &nbsp;Zuk, Miriam (September 2015). “Rent Control: The Key to Neighborhood Stabilization?” Accessed at [https://haasinstitute https://haasinstitute]. berkeley.edu/rent-control-key-neighborhood-stabilization.<br/> <sup>112</sup> &nbsp;Arnott, Richard (1995). “Time for Revisionism on Rent Control?” The Journal of Economic Perspectives 9(1), pp. 99–120.&nbsp;<br/> <br/> Ambrosius, Joshua D. et al. “Forty years of rent control: Reexamining New Jersey’s moderate local policies after the great recession,” Cities, 49, pp. 121–133.&nbsp;''
 
''Gilderbloom, John and Richard Appelbaum (1988) Rethinking Rental Housing, pp. 134-136.&nbsp;''
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''Ken Baar, “Facts and Fallacies in the Rental Housing Market”, Western City, Sept. 1986, 49 - 50. as cited by Abood, Maya, Vanessa Carter, and Manuel Pastor (forthcoming) “Rent Regulations: A Literature Summary”. USC Program for Environmental and Regional Equity.<br/> [apparently not available online].&nbsp;''
 
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National Multifamily Housing Council. "[https://www.nmhc.org/news/articles/the-high-cost-of-rent-control The High Cost of Rent Control]." [undated]. [https://www.nmhc.org/news/articles/the-high-cost-of-rent-control/.  https://www.nmhc.org/news/articles/the-high-cost-of-rent-control/.&nbsp;]
 
''"Inhibition of New Construction:<br/> "By forcing rents below the market price, rent control reduces the profitability of rental housing, directing investment capital out of the rental market and into other more profitable markets. Construction declines and existing rental housing is converted to other uses.''
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*Niemietz, Kristian. "How Germany Made Rent Control "Work": Rent Control "Works" when It ... Doesn't Control Rents." FEE.org,&nbsp;June 03, 2016.&nbsp;[https://fee.org/articles/how-germany-made-rent-control-work/. https://fee.org/articles/how-germany-made-rent-control-work/. ]<br/> &nbsp;
*Olsen, Edgar [1972]. &nbsp;An Econometric Analysis of Rent Control. Journal of Political Economy 80(6):1081-100. DOI: [https://doi.org/10.1086/259959 https://doi.org/10.1086/259959]. PDF: [https://drive.google.com/openid=1AKUdayTtyQTObdLRTb7v2r5sOkHj1I-a https://drive.google.com/openid=1AKUdayTtyQTObdLRTb7v2r5sOkHj1I-a].<br/> [an early and seemingly often-cited paper].&nbsp;<br/> <br/> ''"The cost of producing a unit of housing service in a controlled apartment will be higher than the cost of producing a unit in the uncontrolled market. &nbsp;The argument is as follows. From the viewpoint of technical efficiency in the production of housing service, there is an optimal path of deterioration for each dwelling. The operation of a competitive housing market results in the attainment of this optimal path. Rent control results in a faster-than-optimal rate of deterioration. Therefore, rent control results in a higher unit cost of producing housing service in the controlled market."''<br/> <br/> ''"It seems quite likely that the cost of producing housing service in the uncontrolled market is higher than it would have been had rent control been terminated in New York City shortly after the Second World War. &nbsp;The existence of rent control in New York City probably makes the owners of uncontrolled rental housing sensitive to the possibility of changes in the rent-control law which would inflict capital losses on them. Indeed, in 1969 a mild form of rent control was extended to more than half of the then-uncontrolled rental stock...Therefore, it is reasonable to expect that investors in rental housing in New York City will demand and receive a higher-risk premium. If this argument is correct, then contrary to one of the assumptions underlying the empirical results in this paper, the long-run supply price of housing service in the uncontrolled market in 1968 was greater than it would have been had rent control never gone into effect in New York City. This implies that the occupants of uncontrolled housing were worse off than they would have been in the absence of rent control."''<br/> &nbsp;
*Painter, Gary. "Op-Ed: No, rent control doesn’t always reduce the supply of housing." LA Times, Oct 31, 2018. [https://www.latimes.com/opinion/op-ed/la-oe-painter-rent-control-economist-20181031-story.html.  https://www.latimes.com/opinion/op-ed/la-oe-painter-rent-control-economist-20181031-story.html.&nbsp;]<br/> cites USC Pastor study.<br/> &nbsp;
*Pastor, Manuel, Vanessa Carter, and Maya Abood. "[https://dornsife.usc.edu/assets/sites/242/%20docs/Rent_Matters_PERE_Report_Final_02.pdf Rent Matters: What Are the Impacts of Rent Stabilization Measures?]" (USC Program for Environmental & Re- gional Equity, 2018), [https://dornsife.usc.edu/assets/sites/242/ https://dornsife.usc.edu/assets/sites/242/] docs/Rent_Matters_PERE_Report_Final_02.pdf.
 
''Q: Do rent regulations decrease housing production and supply?<br/> A: On balance, rent regulations do not impact new housing construction.&nbsp;''
 
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*Sims, D. P. (2007). "Out of control: What can we learn from the end of Massachusetts rent control?" Journal of Urban Economics, 61(1), 129–151.<br/> ''Abstract:<br/> "This paper uses the sudden end of rent control in Massachusetts in 1995 to estimate the effects of rent control. I examine Boston MSA data from the American Housing Survey years 1985–1998 to determine how rent control affected the quantity, price and quality of rental housing. My results suggest rent control had little effect on the construction of new housing but did encourage owners to shift units away from rental status and reduced rents substantially. Rent control also led to deterioration in the quality of rental units, but these effects appear to have been concentrated in smaller items of physical damage. I also examine specifications that allow rent control to affect rent levels both directly through controlled status and indirectly through spillover effects from nearby rent controlled units. These estimates imply that rent control may have small effects on the price of the non-controlled rental housing stock."''<br/> &nbsp;
*Tenants Together. "[https://medium.com/@tenantstogether/making-the-case-for-rent-control-c598740f5ce8 Making the Case for Rent Control]."&nbsp; Medium, Jan 22 2018.<br/> [https://medium.com/@tenantstogether/making-the-case-for-rent-control-c598740f5ce8 https://medium.com/@tenantstogether/making-the-case-for-rent-control-c598740f5ce8].<br/> &nbsp;
*Whitehead, Christine, and Peter Williams. "[http://lselondonhousing.org/wp-content/uploads/2018/10/LSE-International-Evidence-on-Rent-Control-Report-2018-Final.pdf Assessing the Evidence on Rent Control from an International Perspective]."&nbsp;LSE On Housing (London School of Economics), October 2018. [http://lselondonhousing.org/wp-content/uploads/2018/10/LSE-International-Evidence-on-Rent-Control-Report-2018-Final.pdf http://lselondonhousing.org/wp-content/uploads/2018/10/LSE-International-Evidence-on-Rent-Control-Report-2018-Final.pdf].<br/> &nbsp;
*Wikipedia. "[https://en.wikipedia.org/wiki/Rent_regulation Rent regulation.]"&nbsp;<br/> &nbsp;
*Willis, John W. “[http://scholarship.law.cornell.edu/clr/vol36/iss1/3 Short History of Rent Control Laws,]” 36 Cornell L. Rev. 54 (1950). [http://scholarship.law.cornell.edu/clr/vol36/iss1/3 http://scholarship.law.cornell.edu/clr/vol36/iss1/3].<br/> &nbsp;
*Zuk, Miriam [2015]. “[https://haasinstitute.%20berkeley.edu/rent-control-key-neighborhood-stabilization Rent Control: The Key to Neighborhood Stabilization?]” Haas Institute, September 2015. [https://haasinstitute https://haasinstitute]. berkeley.edu/rent-control-key-neighborhood-stabilization.
 
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