In America’s largest metros—from New York and Los Angeles to Chicago and Boston—rents have climbed to record highs, and eviction fears are rising.
City and state leaders are weighing stronger interventions. Those include rent control, which limits how often and how much rents can be raised, rent freezes on stabilized units, and faster approvals for new housing construction.
California, Oregon, and Washington have statewide rent control. Six states and Washington, D.C., have local rent controls in place. But most states prohibit the practice, according to the National Apartment Association.
Supporters of these policies say they buy time for working families while housing construction rises to meet demand. Critics warn that the policies can deter investment in the rental market….