Is Rent Control Coming? Here?

Could Rent Control happen here?

Some  states and many cities, municipalities, and counties worldwide have enacted laws, policies, and ordinances supporting the concept of price controls on residential rental units.  Ostensibly these policies are to allow for more affordable housing options for those citizens and families in areas of high rental costs and low housing availability.

Pensacola/Escambia County have significant poverty combined with a shortage of attainable housing units.

Is this something that could happen?  Is rent control coming here?

The concept of price controlled housing is generally panned by most private landowners, economists, apartment operators, and conservatives--while it is supported, generally speaking, by liberals, social science (and egghead) academics, and idealogues.

It's a concept that has failed just about everywhere it has been implemented.  Read about some of the epic failures and arguments against rent control here, here, and here.

But according to a recent report from the National Multifamily Housing Council--these policies will be moving again in the new year--and incredibly Florida is listed as a strong candidate for price controlled rent (not at the statewide level; state maintains preemption).  This is because at the local level Florida law specifically allows a municipality/county the option to implement rent control if a successful ballot initiative of the affected citizenry passes in such an area authorizing such price control.

I don't see it happening in Escambia County.  At least not for my vote and I doubt it would get three votes.  But how about in the city of Pensacola?  Perhaps?

I hope not:  because I philisophically disagree with the construct and I believe the market should dictate rental prices---not bureaucrats. Foisting draconian price terms and conditions on private market developers and apartment owners will stifle new investment and actually reduce the supply. And the quality of the housing that is available currently will deteriorate. 

That's what happens in real life---- not in imaginery, make-believe worldview aspirational economies. 

But I guess we will see what happens in the new year in the city.  Again, I don't see this happening in the county at all.

Read all about this topic and where it is gaining traction nationwide here.