Source: Ludwig von Mises Institute
by Tom Wilson
“Housing costs in New York City have reached a level that many people can no longer afford. The response has been to push for more control—limits on rent increases and expanded tenant protections. The intention is clear. However, housing markets respond to incentives, not intentions. Under Zohran Mamdani, New York City is moving further in that direction. The focus is on limiting rent increases, expanding tenant protections, and increasing the role of government in the housing market. The policy has not fully taken effect yet. Once these rules interact with rising costs, the housing market will respond to the incentives. Rent control keeps rents down, but it does not keep costs down for the landlord.” (04/09/26)
https://mises.org/power-market/why-rent-control-fails-lessons-new-york-portland