That’s really the core problem here. As is often the case with rent control models, the natural outcome of an incentive structure came to pass in spite of the best intentions of legislators/regulators.
Yep. Government-imposed price controls and caps should actually be illegal. Like actually unconstitutional, with the requisite constitutional amendments in California (and the other States) and the US Constitution being passed.
No matter what anybody’s intentions are, they always end up creating market distortions that eventually lead to more societal issues than the ones they’re suppose to alleviate and it’s just bad economics that shouldn’t even be a tool in politicians’ (or voters, but ballot box lawmaking should be illegal too) toolboxes so they’re forced to address the upstream concerns that cause prices on land, housing, rents, services and goods to climb to the point of being unaffordable to most of the population.
