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Rent Control in North America and Four European Countries - Regulation and the Rental Housing Market (Hardcover)
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Rent Control in North America and Four European Countries - Regulation and the Rental Housing Market (Hardcover)
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Rent control, the governmental regulation of the level of payment
and tenure rights for rental housing, occupies a small but unique
niche within the broad domain of public regulation of markets. The
price of housing cannot be regulated by establishing a single price
for a given level of quality, as other commodities such as
electricity and sugar have been regulated at various times. Rent
regulation requires that a price level be established for each
individual housing unit, which in turn implies a level of
complexity in structure and oversight that is unequaled.Housing
provides a sense of security, defines our financial and emotional
well-being, and influences our self-definition. Not surprisingly,
attempts to regulate its price arouse intense controversy.
Residential rent control is praised as a guarantor of affordable
housing, excoriated as an indefensible distortion of the market,
and both admired and feared as an attempt to transform the very
meaning of housing access and ownership.This book provides a
thorough assessment of the evolution of rent regulation in North
American cities. Contributors sketch rent control's origins, legal
status, economic impacts, political dynamics, and social meaning.
Case studies of rent regulation in specific North American cities
from New York and Washington, DC, to Berkeley and Toronto are also
presented. This is an important primer for students, advocates, and
practitioners of housing policy and provides essential insights on
the intersection of government and markets.
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