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1A

Is Rent Control The Answer To Rising Evictions?

1A

NPR

News

4.3 β€’ 4.5K Ratings

πŸ—“οΈ 29 August 2023

⏱️ 31 minutes

🧾️ Download transcript

Summary

The pandemic made monthly rent payments soar, rising 15 percent between 2020 and 2022.

Evictions are also on the rise since the pandemic, with some cities seeing filings increases by as much as 50 percent, according to Princeton University's Eviction Lab.

This has led some cities and states to consider rent regulations.

This month, a group of economists sent a letter to the Biden Administration in support of national rent regulation. It's a sign of a possible shift in what historically has been one of the most agreed-upon topics among economists – probably ever.

We discuss rent control and which regulations actually work.

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Transcript

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0:00.0

You've probably watched a sitcom like Friends and Thought, how on earth are they affording

0:13.2

that apartment?

0:14.2

Well, for TV writers like those on Sex and the City, the answer is simple.

0:18.4

Beauty is fleeting, but a rent-controlled apartment overlooking the park is forever.

0:25.6

The magical rent-controlled apartment made its way onto many TV sitcoms, but few renters

0:31.1

have experienced it.

0:32.4

Today, only seven states in the District of Columbia have some form of rent regulation,

0:37.3

but the tide may be turning with increasing housing costs.

0:40.8

Rental prices soared during the pandemic, with monthly rent rising 15% between 2020 and

0:46.6

2022.

0:47.6

According to risk management firm Moody's Analytics, the typical American is now rent burdened.

0:53.4

That means their rent costs more than 30% of their income.

0:57.6

Evictions are also on the rise.

0:59.3

Some cities report eviction filing increases of as much as 50% since the start of the pandemic

1:04.6

that's according to Princeton University's eviction lab.

1:07.7

This has led some cities and states to consider some form of rent regulation.

1:11.9

This month, three cities in Los Angeles County enacted rent control.

1:15.6

Massachusetts may be considering rent control on the ballot next year, and last month, Maryland's

1:20.4

Montgomery County voted to adopt a rent stabilization, but are rent control or other rent regulations

1:26.4

a good idea in a country with a growing number of renters?

1:29.9

And what rent regulations actually work?

1:32.6

We discuss those questions and get into a whole lot more after the break.

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