After World War II, the War Emergency Tenant Protection Act was created to protect tenants from war-related housing shortages serving as the first form of rent control. Since then, rent regulation policies have evolved with the intention to create more affordable housing options.
The pros and cons of rent control have been long debated among government officials, investors, and economists alike. Even with a large majority of professional speaking against these policies, local governments must react to public outcries to affordability issues. This is why cities resort to rent regulation as their solution.
For deeper insight on rent control and how it’s affecting states like California, New York, and Oregon, download the article below.