As the global property industry meets in Cannes, France for its premier annual conference, rent
control is a big topic of discussion.
Sadiq Khan, the London mayor, recently drew sharp criticism for proposing new controls as a way
of making life in the British capital more attractive and more affordable. And in the US, Oregon
just passed the first rent control measure to apply across an entire state.
Some Britons are repulsed by attempts to control rent levels because successive governments spent
much of the 20th century vacillating between more and less regulation, with each change
producing progressively worse outcomes. And when residents of high-cost California last year had
the opportunity to give local governments more leeway to cap rents, they resoundingly rejected the