CREW Network proudly presented an enlightening virtual event featuring Sharon Wilson Géno, President of the National Multifamily Housing Council (NMHC), and Caitlin Sugrue Walter, Ph.D., Vice President of Research at NMHC. Together, they dive deep into the evolving narrative of rent control, literature review, and fresh perspectives on how rent regulation impacts both housing providers and residents.
Topics covered include:
Supply Reduction: Rent regulation often reduces the supply of available rental housing. By disincentivizing investment, these policies can lead to fewer new rental units being built, exacerbating housing shortages.
Mobility Barriers: Rent control can create barriers to mobility, trapping residents in units that no longer meet their needs and making it harder for new renters to find housing in regulated areas.
Disproportionate Benefits: The benefits of rent control tend to be skewed towards higher-income, older, and white residents. These groups are more likely to occupy rent-controlled units, leaving low-income and minority renters at a disadvantage.
Property Value Impact: Rent regulation significantly reduces the value of both regulated and nearby unregulated rental properties. This decrease in property value leads to lower real estate tax revenues, impacting local government budgets and services.
Unintended Consequences: Instead of addressing housing affordability, rent control can lead to higher rents in the uncontrolled market, poorer housing conditions due to lack of investment, and overall negative impacts on neighborhood quality and renter well-being.
Explore the data and insights shared by leading voices in the field. Access to the event recording is available for six months from the date of registration. Strengthen your professional position in the commercial real estate landscape and learn what the future holds for rent control policies.
Featuring:
Caitlin Sugrue Walter, Ph.D., is Vice President of Research, with primary responsibility for conducting NMHC's research on apartment industry trends. Caitlin has a B.A. and B.S. (Planning and Public Policy, Criminal Justice) from Rutgers University.
Sharon Wilson Géno is the president of NMHC with over 30 years of experience in the housing industry. Prior to her current role, she served as Executive Vice President and Chief Operating Officer of Volunteers of America National Services (VOANS).
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