On Twitter, Socialist Bernie Sanders has proposed nationwide rent control. Look out, America.
In every city that has implemented rent control, the number of affordable apartments has gone down. Landlords cannot make a profit on controlled rents, so they convert apartments to unaffordable condos. In cases where landlords attempt to get by on low rent, they can’t afford to do needed maintenance, and their properties decline to an unsafe, uninhabitable state.
Sen. Sanders should study history to avoid mistakes of the past. Socialist rent control is not the answer for affordable housing.