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Who Pays for Rent Control? Heterogeneous Landlord Response to San Francisco's Rent Control Expansion

Author

Listed:
  • Rebecca Diamond
  • Tim McQuade
  • Franklin Qian

Abstract

Using a 1994 law change, we exploit quasi-experimental variation in the assignment of rent control in San Francisco to study which types of landlords bear the burden of decreased rental payments versus substitute away from supplying rent-controlled housing. We find rent control leads to a long-run decrease in the supply of rental housing. This effect is more pronounced among properties managed by corporate landlords versus individual landlords. Raising revenue for rental subsidies through rent control appears to be regressive, since corporations can evade the tax burden of rent control more easily, likely due to their superior access to capital.

Suggested Citation

  • Rebecca Diamond & Tim McQuade & Franklin Qian, 2019. "Who Pays for Rent Control? Heterogeneous Landlord Response to San Francisco's Rent Control Expansion," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 377-380, May.
    • Handle: RePEc:aea:apandp:v:109:y:2019:p:377-80
    Note: DOI: 10.1257/pandp.20191021
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    Citations

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    Cited by:

    1. Brian Asquith, 2019. "Do Rent Increases Reduce the Housing Supply Under Rent Control? Evidence from Evictions in San Francisco," Upjohn Working Papers 19-296, W.E. Upjohn Institute for Employment Research.
    2. Gandhi, Sahil & Green, Richard K. & Patranabis, Shaonlee, 2022. "Insecure property rights and the housing market: Explaining India’s housing vacancy paradox," Journal of Urban Economics, Elsevier, vol. 131(C).
    3. Miguel-Ángel López García, 2023. "Controles de alquileres," Hacienda Pública Española / Review of Public Economics, IEF, vol. 246(3), pages 165-206, September.

    More about this item

    JEL classification:

    • K25 - Law and Economics - - Regulation and Business Law - - - Real Estate Law
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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