rent control

Definition

Government-mandated caps on rent increases, beloved by tenants and blamed by landlords for everything from peeling paint to climate change. Economics' most passionate debate in apartment form.

Example Usage

Thanks to rent control, her apartment costs $800 in a neighborhood where studio apartments now rent for $3,000, making her the most popular friend at dinner parties.

Origin

First implemented widely during World War I and II to prevent price gouging during housing shortages

Fun Fact

Economists across the political spectrum tend to agree that rent control doesn't work as intended, yet it remains wildly popular in expensive cities.

Source: Housing policy and regulation terminology

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