Why Rent Control Is Wrong for Chicago

Why Rent Control Is Wrong for Chicago

2019-03-15T10:40:16-07:00March 15th, 2019|Advocacy|

Despite ongoing efforts to address the nation’s workforce housing crisis, it remains a critical issue in 2019, leading to a renewed push for rent control. Last month, Oregon enacted our country’s first statewide cap on rental increases. However well-intended, these policies have been proven to fall short of expectations and in most cases do more harm than good.

The specter of rent control is looming large for Chicago. Gov. J.B. Pritzker has been outspoken in his support to repeal Illinois’ 1997 law banning rent regulations. Chicago mayoral candidate Toni Preckwinkle also backs the repeal, while her competitor, Lori Lightfoot, has not taken a formal position despite running ads that mention the challenge of rising rents. At the grassroots level, activists have been calling for rent control in gentrifying neighborhoods where long-term residents are being priced out. In nonbinding referendums in last month’s elections, residents in four wards voted to end the rent control ban.

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