Word: control
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Dates: during 1980-1989
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...find housing at the cheaper price. The losers are less noticeable. Suppliers of housing lose because they get less for their apartments, and thus have little incentive to provide more housing. (This means that the supply of housing is lower than it would have been without rent control.) As a result, there is another, more important group of losers--the consumers who cannot find housing at all because of insufficient supply...
Unfortunately, the people who cannot find housing are all frequently the poor, even though rent control supposedly equalizes the ability of rich and poor to compete for housing...
...unlike some other vintage Ec 10 theories, the correlation between rent control and homelessness is borne out by the facts...
...study of 50 American cities, William Tucker found that, of all factors commonly suggested to explain homelessness, the existence of rent control has the single strongest correlation. Rent control, he found, is typically associated with a 250 percent increase in homelessness...
THAT'S why I wish my activist friends would get the news. Rent control hurts the most vulnerable members of society for the benefit of a few people who get "a good deal" on their rents. It's the classic example of the "pull-up-the-ladder syndrome," as Washington Monthly editor Charles Peters calls psuedo-liberal programs that hurt the folks at the bottom...