How St. Paul’s rent control experiment backfired spectacularly

John Stossel: Rent control ... still doesn't work

In 2022, politicians in Minneapolis and St. Paul voted for rent control.

Rent Control ... Still Doesn't Work

Rent control in Minneapolis and St. Paul failed, reducing housing supply and raising prices.

Rent Control ... Still Doesn’t Work

Screenshot via Stossel TV/YouTube In 2022, politicians in Minneapolis and St. Paul voted for rent control.I said that would lead to bigger problems.Was I right?My update video reveals what happened.St. Paul politicians pushed rent control, saying rent caps would stop “unfair profiteering.”But what the heck is “profiteering,” and how is it different from “profit”? Who decides what is “unfair”?The opportunity for profit is what persuades people to…

How St. Paul’s rent control experiment backfired spectacularly

Construction of new housing collapsed in the Minnesota city as builders took their business elsewhere.

Rent Control … Still Doesn’t Work

Screenshot via Stossel TV/YouTube In 2022, politicians in Minneapolis and St. Paul voted for rent control.I said that would lead to bigger problems.Was I right?My update video reveals what happened.St. Paul politicians pushed rent control, saying rent caps would stop “unfair profiteering.”But what the heck is “profiteering,” and how is it different from “profit”? Who decides what is “unfair”?The opportunity for profit is what persuades people to…