Rents Too High - Then get RID of RENT CONTROLS

The Property Nomads Podcast

Rob discusses the issue of high rents and the proposed solution of implementing rent controls. He argues that rent controls do not work and uses examples from the USA and Scotland to support this claim, emphasising the importance of addressing the supply side of the housing market rather than implementing price controls.

KEY TAKEAWAYS

• Rent controls do not work and have never worked in the past.
• Implementing price controls or rent controls can lead to a temporary suppression of issues, but they resurface when the controls are removed.
• Scotland's experience with rent controls for social housing and private landlords showed that rents skyrocketed once the controls were lifted.
• Governments should focus on addressing the supply side of housing economics rather than implementing rent controls.
• Letting the free market operate without controls is essential to effectively address high rents.

BEST MOMENTS

"Price controls, rent controls do not work. They never have worked. They never will work."

"The ironic thing about that and the sad thing about that as well is that when you bring in these sorts of controls and then you bring them in for social housing landlords as well, again like what happened in Scotland."

"We've touched upon this before in Scotland, that rental controls do not work."

"Let the free market deal with it. What you need to do is deal with the supply side of the economics."

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