'The broad vision laid out in this report is one primarily — although not completely — focused on government intervention and programs. It is one that has big promises but will never be able to deliver tangible results.' -Jack_Elbaum
I have previously explained how its section on public safety would do nothing but exacerbate Chicago’s crime problem. But that is far from the only terrible section of the report. The housing plan it laid out is also particularly bad.
There is a lot of talk about extra funding for “X” and starting program “Y.” And while some spending on housing vouchers makes sense, large government programs — and especially public housing and rent control — cannot be the centerpiece of a workable and effective housing policy plan.In short, significant research shows that rent control disincentivizes the construction of new housing, which creates housing shortages and actually ends up causing prices to rise.
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