Rent Control

I don’t know how to handle this Economics question and need guidance.

Our region is plagued by an acute ahousing affordability crisis. As rents continue to rise, different proposals about rent control are increasingly discussed in area city councils.

This short video from 2018 lays out some of the arguments for rent control in Seattle (Update: The bill they discuss in the video did not pass)

What does economics have to say about the likely results of rent control? New York City (and many other cities) have some type of rent control in place. What were the results? This is an older video but does a better job than anything else I have found about framing the potential pitfalls of rent control, through the experience of NYC.

What should Seattle/King County do about housing affordability?

(We are covering two chapters this week, so this is designed as a short discussion. Both videos together are less than 10 minutes, and the second video dovetails with many of the criticisms of rent control in the chapter)