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Where? My understanding is that it leads to a shortage of rental property which blocks new tenants, and a disinclination to improve current property.
Krugman..
https://www.nytimes.com/2000/06/07/opinion/reckonings-a-rent-affair.htmlEdit to add.. a gloss
https://www.governing.com/gov-institute/voices/col-rent-control-bad-idea-making-comeback.html
hurricane_run-
Austria and Switzerland are the two I'm most familiar with. Vienna is one of the most affordable cities in the world, in terms of rental costs.
Can see how supply could be reduced by it in terms of fewer developers thinking it's financially viable to build apartments, but that's a problem to be solved...not a reason to not do it.
As somebody mentioned upthread... it'd need to be accompanied by empowered housing associations and social housing projects. Clearly the current situation of developers building luxury flats with one or two"affordable units" couldn't continue.
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Sounds like the answer is to increase wages (probably while trying to arrest increasing house prices)?
Stonehedge
𝔒𝕨𝖑𝘡
Why? Works well in plenty of places.
Other than the landlord-centric concern of it reducing property prices, what's the catch?