Rent control is bad because it distorts well-functioning markets, says economist

Some 67 percent of Americans live in owner-occupied homes, meaning they enjoy de facto rent control in the form of a 30-year mortgage.

David Rothkopf : The goal of rent control is to create a more affordable housing sector, but it in fact causes shortages.

He says the real way to achieve a robust housing sector is the free market, which will ensure sufficient supply of low-cost rentals are available to all seeking them.

Rothkin: The right to stay in one’s home is just as important as the right to move.

Julian Zelizer : Rent control is not a silver bullet that will solve the housing affordability crisis.

He says rent control can stem the tide of gentrification and keep residents in their homes.

Polling shows a majority of likely voters support rent control, with just 1 in 5 opposing such a measure, he says.

Zelizer says some states have preemption laws against rent control.

The neoliberals may be wrong about rent control, but they are right that America needs a lot more housing.

To truly transform the housing sector, the U.S. will need to embrace complementary policies to increase the number of affordable and market-rate housing units.