Rent Control Needs Retirement, Not A Comeback By Megan McArdle

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Summary of current event article
The article, “Rent control needs retirement, not a comeback,” by Megan McArdle, published in the Bloomberg View, discusses why the re-adoption of the rent control policy is a bad idea due to the problems it causes to the real estate industry (McArdle 1). Megan begins by acknowledging that the implementation of the policy first brings about a win for tenants, who get to enjoy living in affordable apartments whose rent does not increase. However, the continued control of rent results in negative consequences.
Economic justice, which this policy was to resolve, erodes as people fail to move out of cheaper apartments to ones that are more expensive even when they can afford to with an increase in income. Consequently, it makes it impossible for low paid individuals and those new in the city to secure...