Rent Control by Fiat: The Wrong Medicine for San Francisco's Housing Woes San Francisco Mayor Daniel Lurie has declared a rent emergency in response to the city's soaring housing costs, which have reached $4,495 per month for a one bedroom apartment.
While his intentions may be good, the solution he proposes – rent control by fiat – is likely to exacerbate the problem. Rent control has been tried before in other cities with dismal results.
It creates a shortage of available housing units as landlords hesitate to invest in new construction or maintenance when future profits are capped.