DON'T BELIEVE ABOLISHING RENT CONTROL WILL HELP AFFORDABLE HOUSING: Free Market "Solutions" In the Real World Are False, at least for Housing-

Instead of the panacea touted by developers, real estate moguls, and conservative economists, that the abolition of rent control would solve the affordable housing crisis by increasing demand, let's look at an example from reality instead of the ideal textbook world they always cite. In real life, demand for housing has proven almost inelastic, what no supply curve could come up against to lower exorbitant rents; Examples elsewhere prove it. Boston did away with rent control and it has proven a disaster, forcing thousands of families out of the city! Boston's mayor and many now lament the change, but it is too late. The Apartment and Office Buildings Association (AOBA) then hailed a purported new rent program in Boston called "Rent Plus".  Plus what? The family jewels? So, in real life, it would instead make DC an even more unaffordable city; its only benefit, a bonanza to developers, and reduce this town to a demographic catastrophe, ensuring that the District, like other cities across the country, are reduced to bi-polar enclaves, consisting of the very rich and the very poor.

 

District rent control was designed along with home rule to help and empower low and middle income renters and minorities to keep affordable housing and stabilize neighborhoods. It was also intended to retain people who have a key stake and make a signal contribution to the city, i.e., teachers, firefighters, police and other public service workers -- local or federal. So, we seek to preserve and advance affordable housing, the rights of tenants, and rent control.