Who told you rent control backfired? Cause that’s a lie. It was just never adopted as widely as it should have been, and rich owners always have the ear of lawmakers … the same can’t be said of poor/working poor people.
Capitalist/free market* economists.
Rent control works just fine in a more socialist model, especially when the government is a prime builder of housing without seeking profit, as almost every European country was during the 50s-70s. It’s only when government gets out of house building and everything gets privatisated and for-profit that rent control fails.
Don’t know if you’ve noticed this yet, but the United States has a capitalist economy.
You may want to look at how rent control turned out there, and why Europe is broadly turning against rent control, and seeing it as a mistake https://www.bloomberg.com/opinion/articles/2021-03-02/berlin-s-rent-controls-are-proving-to-be-the-disaster-we-feared?in_source=embedded-checkout-banner
Putting all your faith in economists whose sole purpose is to back the current capitalist shitshow that rapes the land and kills the poor is a strange take.
But you do you I guess.
The author of that article is Megan McArdle. A quick look at her other articles:
- An article that attempts to shift blame away from media execs and onto consumers, in response to the writers/actors’ protests
- “Higher minimum wages may increase homelessness” (literal article title)
- Says we shouldn’t expect to keep taxing wealthy people
- Wants to reduce medicaid but conveniently doesn’t mention the amount of death poor people will experience as a result of that, using the same austerity justifications we’ve heard in Europe already (that turned out to be bullshit)
I’m sure she has no right wing economics bias lol
