Industry Fights Back Against Rent Control

Following the release of President Biden’s action plan for housing which included a 5% rent cap and public land development, MHI and the housing coalition sent a letter to the White House opposing the rent cap proposal. The coalition outlined the research that has been done proving the inefficiency of rent control policies, explaining how the policies in fact raise rents and lower housing supply by constricting capital. In addition, the coalition pointed out how federal rent caps create more confusion in the existing tangle of regulations from the state and local levels which disincentives investors. The coalition urged the White House collaborate with housing providers and pursue policies that would actually expand the housing supply such as those outlined in the administration’s Housing Supply Action Plan.

Read the full letter via the “Access Resource” button.