Analyzing Rent Control: The Case of Los Angeles
AbstractAn accurate assessment of the economic effects of a rent control law requires that both the specific provisions of the ordinance and the characteristics of the local housing market be considered. Examining the case of Los Angeles, the authors conclude that, first, most of the transfers from landlords to tenants were realized early in the law's life, while most of the economic cost of rent control was incurred later; and, second, ordinance provisions aimed at increasing landlord's incentives to maintain rent-controlled dwellings also markedly reduce the size of the transfers to tenants. These results, the authors think, will apply to other jurisdictions. Coauthors are C. Peter Rydell, C. Lance Barnett, Carol E. Hillestad, and Kevin Neels. Copyright 1991 by Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 29 (1991)
Issue (Month): 4 (October)
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- Goodman, Allen C., 2005. "Central cities and housing supply: Growth and decline in US cities," Journal of Housing Economics, Elsevier, vol. 14(4), pages 315-335, December.
- David Dale-Johnson & Yongheng Deng & Peter Gordon & Diehang Zheng, 2004. "An Examination of the Impact of Rent Control on Mobile Home Prices in California," Working Paper 8595, USC Lusk Center for Real Estate.
- McFarlane, Alastair, 2003. "Rent stabilization and the long-run supply of housing," Regional Science and Urban Economics, Elsevier, vol. 33(3), pages 305-333, May.
- G. Donald Jud & John D. Benjamin & G. Stacy Sirmans, 1996. "What Do We Know about Apartments and Their Markets?," Journal of Real Estate Research, American Real Estate Society, vol. 11(3), pages 243-258.
- Heffley, Dennis, 1998. "Landlords, tenants and the public sector in a spatial equilibrium model of rent control," Regional Science and Urban Economics, Elsevier, vol. 28(6), pages 745-772, November.
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