What do almost all economists agree about rent control?

Question

Quizplus · Accepted Answer

Almost all economists agree that rent control adversely affects the availability and quality of housing. When rent control is implemented, it reduces the incentive for landlords to invest in and maintain their properties, leading to a decrease in the overall supply of housing. This decrease in supply also leads to an increase in demand, causing rents to rise even higher for those who are not covered by rent control. Additionally, rent control often results in a misallocation of housing, as tenants who do not necessarily need the subsidy, such as wealthy or politically connected individuals, are able to secure rent-controlled apartments, while those who are truly in need may not be able to find affordable housing.

What Do Almost All Economists Agree About Rent Control