In today’s deep dive, Tom Bilyeu tackles one of the hottest—and most misunderstood—topics in urban life: rent control. As rents skyrocket in cities like New York and San Francisco, and an entire generation struggles under crushing debt and soaring housing costs, the call for rent control has become louder than ever. But Tom asks the hard question: does rent control actually make rents more affordable, or does it trigger a downward spiral of housing shortages, urban decay, and economic stagnation? Drawing lessons from around the world and diving into the history of rent control policies in cities like New York, Stockholm, Berlin, and San Francisco, Tom exposes the hidden costs and unintended consequences of top-down economic interventions. He argues that while rent control might sound like a lifeline for struggling renters, it often backfires—making things even worse by stifling new construction, deteriorating housing stock, and trapping communities in economic hardship. Through compelling stories and insightful analysis, Tom explores why these policies persist, the powerful forces—like NIMBYism and regulatory capture—keeping housing scarce, and how cities like Houston and Tokyo buck the trend with market-driven solutions. Packed with examples, practical takeaways, and a passionate call for economic freedom, this episode is a must-listen for anyone trying to understand the real roots of the housing crisis—and what can actually be done to fix it. SHOWNOTES 06:53 Rent Control's Impact on Housing Crisis 11:59 Rent Control’s Unintended Consequences 14:07 "Emotional Economics and Policy Failures" 21:36 The Pitfalls of Populist Promises 34:11 Tianducheng: China's Paris Struggles 42:59 Free Market vs. Rent Control CHECK OUT OUR SPONSORS Vital Proteins: Get 20% off by going to https://www.vitalproteins.com and entering promo code IMPACT at check out SKIMS: Shop SKIMS Mens at https://www.skims.com/impact #skimspartner Allio Capital: Macro investing for people who want to understand the big picture. Download their app in the App Store or at Google Play, or text my name “TOM” to 511511. SleepMe: Visit https://sleep.me/impact to get your Chilipad and save 20% with code IMPACT. Try it risk-free with their 30-night sleep trial and free shipping. Jerry: Stop needlessly overpaying for car insurance - download the Jerry app or head to https://jerry.ai/impact Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact CashApp: Download Cash App Today: https://capl.onelink.me/vFut/v6nymgjl #CashAppPod iRestore: For a limited time only, our listeners are getting a HUGE discount on the iRestore Elite when you use code IMPACT at https://irestore.com/impact WORK WITH TOM! 7-8 Figure Leadership Workshop: If you're a 7 or 8-figure founder struggling with employee under-performance and/or churn, join my live workshop on Tuesday, July 22nd at 1pm PT. ⁠⁠Register for free here⁠⁠. Zero to Launch GPT: Stop overthinking your business ideas and get clarity in 30 minutes. ⁠⁠Access my free CustomGPT trained on my proven validation framework here.⁠⁠ 7+ Figure Founders Only: Ready to abandon conventional business wisdom and think from first principles? ⁠⁠Apply to work directly with me to scale your business here. ⁠⁠ ********************************************************************** LISTEN TO IMPACT THEORY & MINDSET PLAYBOOK AD FREE + BONUS EPISODES on APPLE PODCASTS:⁠⁠ apple.co/impacttheory⁠⁠ ********************************************************************** FOLLOW TOM: Instagram:⁠⁠ https://www.instagram.com/tombilyeu/⁠⁠ Tik Tok:⁠⁠ https://www.tiktok.com/@tombilyeu?lang=en⁠⁠ Twitter:⁠⁠ https://twitter.com/tombilyeu⁠⁠ YouTube:⁠⁠ https://www.youtube.com/@TomBilyeu⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices