Free enterprise or controlled enterprise? Rent control has always seemed to me to be bad for America’s free enterprise system. When you remove the word “free,” then the word “control” can be almost automatic.
I recently learned that the state of Oregon has passed a new statewide rent control system. Its House of Representatives, controlled by the Democrats, has passed a first statewide rent control on a vote of 35 to 25.
I realize there are also rent control restrictions in states like Washington and New York and such control has been used in Los Angeles and San Francisco for some time. Those are two cities where an average person sometimes has to pay thousands in rent and yet only live in a little apartment. My take always starts out by saying that I hope “supply and demand” will do the job. That is when the on the market system does its job.