An explicit and anecdotal rent control inefficiency I was made aware of firsthand in SF:
A young man lived in a rent controlled apartment for many years. He eventually met a lovely woman and they began dating seriously. They moved into the apartment together and enjoyed several years there together.
Eventually, they were ready to have children and moved to the East Bay, but they decided to keep the rent controlled apartment for occasional weekends in the city. At this point, between both of their incomes, it was a drop in the bucket. That apartment to this day sits mostly empty, while a housing crisis dwells around us and rents keep going higher.
We talk about pushing people out of neighborhoods — this literally has taken a home away from someone that could be living and working in the city. No story is the same, but the inefficiency is clear.
SF is ahead of many cities, but apparently still has "minimum parking requirements" for certain new developments. Good news though, that may be about to change:
A young man lived in a rent controlled apartment for many years. He eventually met a lovely woman and they began dating seriously. They moved into the apartment together and enjoyed several years there together.
Eventually, they were ready to have children and moved to the East Bay, but they decided to keep the rent controlled apartment for occasional weekends in the city. At this point, between both of their incomes, it was a drop in the bucket. That apartment to this day sits mostly empty, while a housing crisis dwells around us and rents keep going higher.
We talk about pushing people out of neighborhoods — this literally has taken a home away from someone that could be living and working in the city. No story is the same, but the inefficiency is clear.