Rent controls and rental housing quality: A note on the effects of New York City's old controls
1990; Elsevier BV; Volume: 27; Issue: 3 Linguagem: Inglês
10.1016/0094-1190(90)90009-c
ISSN1095-9068
AutoresJoseph Gyourko, Peter Linneman,
Tópico(s)Financial Literacy, Pension, Retirement Analysis
ResumoRent controls are used in many cities throughout the United States and many other countries. ’ There is a lengthy literature on the conceptual effects of rent controls. This is not surprising given the size of housing in the U.S. asset base and the political importance attached to homeownership and quality housing. It is surprising how little evidence there is on many of the supposed effects of rent controls. The evidence on these impacts is relatively slim for a variety of reasons. First, the data needed to document some of the predicted impacts are not good. For example, it is difficult to measure effective maintenance inputs, and it is costly to obtain any such data on a wide variety of buildings. Convincing ceteris paribus experiments are difficult to perform because there typically are many other factors for which it is hard to control. Additionally, the negative theoretical implications appear to be so clear that many economists may not have felt much need to quantify the extent of the damage. Nevertheless, there is some evidence on the influences of rent controls. From studies estimating the price elasticity of the supply of structures, economists have estimated the likely effect of rent controls on the supply of new structures in a city.’ Rydell et al. [lo] and Fallis and Smith [3] have
Referência(s)