He promised that cities would be given the power to control rents, and his advisers indicated that he wanted to go further than a pre-election promise to limit rent rises to the inflation rate. “Rent controls exist in many cities across the world and I want our cities to have those powers too and tenants to have those protections,” Corbyn said.
Assar Lindbeck: “next to bombing, rent control seems in many cases to be the most efficient technique so far known for destroying cities”
Labour sources said the party would be looking at models of rent control in cities across the world as part of a review, and said the property market was “dysfunctional”.
If you think it’s dysfunctional now you just wait until there’re rent controls.
Does no one remember how bloody difficult it was to rent a place when we had rent controls in the 70s and early 80s?
From a Parliament report:
The application of rent controls coincided with a decline in the private rented sector. The
sector had made up nine-tenths of the housing stock in 1915 but had reduced to onetenth
by 1991. Rent control has been widely identified as a factor in this decline; it is
argued that there is a direct correlation between reduced rental returns and reduced
investment in the sector.