Rent control today looks far different than the rent freeze New York City enacted after World War II. Most rent controls today simply restrict annual rent increases and guarantee landlords a “fair return” in exchange for maintaining their properties.
a. How do rent controls today that allow annual rent increase attempt to address the problems created by the traditional rent freeze discussed in your text?
b. Do you consider rent controls an appropriate mechanism to address the disproportionate power that landlords hold over tenants? Why or why not?
Source: Copied & Paraphrased from Colander (2010): Macroeconomics, 8th edition