Why Rent Control and Housing Subsidies Backfire: James Burling [CLIP]

🔴 WATCH the full episode: https://ept.ms/S1001JamesBurling

🔵 Sign up for the American Thought Leaders ALERTS newsletter to stay up-to-date on new episodes, releases, and events 👉 https://ept.ms/ATLnewsletter

“2019: New York passes a new rent control law, which is as draconian as the old one. And now the market value of apartments is going down, landlords are no longer renting out apartments in some cases, and we are going through the same old cycle before. So, the idea of having national rent control, as has been proposed by some people, is going to make a problem that is confined to the cities with rent control into a national problem. And it's been a disaster wherever it's been tried. Also, the cost of housing in the areas of rent control and around them go up because there's such a disincentive for building new supply, supply doesn't meet demand, and prices go up in everything except the rent-controlled units. So it does nobody any favor.” - James Burling, author of “Nowhere to Live”