# Economists Reject Biden-Harris Rent Control Plan 

New survey data from Kent A. Clark Center for Global Markets

July 24, 2024 • Commentary 

By [Ryan Bourne](https://www.cato.org/people/ryan-bourne) and Sophia Bagley 

This article appeared in *[SubStac](https://ryanbourne.substack.com/p/economists-reject-biden-harris-rent)* on July 24, 2024.

We recently examined a [damning meta-analysis](https://ryanbourne.substack.com/p/new-meta-study-details-the-distortive?utm_source=post-email-title&publication_id=1038460&post_id=145143523&utm_campaign=email-post-title&isFreemail=true&r=1rx53s&triedRedirect=true&utm_medium=email) of the effects of rent control laws. Last week, we warned that [Joe Biden’s proposal to cap rent increases](https://ryanbourne.substack.com/p/joe-bidens-rent-control-plan) of corporate landlords at 5 percent per year would have some of these deleterious consequences.

Well, a [new survey](https://www.kentclarkcenter.org/surveys/national-rent-caps/) for the Kent A. Clark Center for Global Markets confirms this is all received wisdom among academics. We don’t need to analyze the results in detail here because the aggregated responses of the 45 economists are crystal clear in their conclusions. Economists overwhelmingly think the Biden-Harris plan wouldn’t make Americans better off or reduce inequality, but would substantially reduce the supply of properties available for rent.

![bourne-bagley-chart-7-24-24-img-1.jpg](/sites/cato.org/files/styles/pubs_2x/public/2024-07/bourne-bagley-chart-7-24-24-img-1.jpg?itok=7cRFbHyG) 

![bourne-bagley-chart-7-24-24-img-2.jpg](/sites/cato.org/files/styles/pubs_2x/public/2024-07/bourne-bagley-chart-7-24-24-img-2.jpg?itok=toCD00e5) 

![bourne-bagley-chart-7-24-24-img-3.jpg](/sites/cato.org/files/styles/pubs_2x/public/2024-07/bourne-bagley-chart-7-24-24-img-3.jpg?itok=GmVli2_M) 

There’s a great chapter on the economics of rent control in *[The War on Prices](https://www.amazon.com/War-Prices-Popular-Misconceptions-Inflation/dp/1952223865/ref=sr_1_1?crid=2HBVCJOZBGAJ9&keywords=%22the+war+on+prices%22&qid=1694201284&sprefix=the+war+on+prices+%2Caps%2C89&sr=8-1)* that explores these issues in more detail.

##### About the Authors 

[![Ryan Bourne](/sites/cato.org/files/styles/author_picture/public/2021-01/Ryan%20Bourne.jpg?itok=nv8-2r7d)](/people/ryan-bourne) 

##### [Ryan Bourne](/people/ryan-bourne)

R. Evan Scharf Chair for the Public Understanding of Economics, Cato Institute

[ 

](https://x.com/MrRBourne) [ 

](mailto:rbourne@cato.org) 

![Sophia Bagley - cropped](/sites/cato.org/files/styles/author_picture/public/2023-11/sophia-bagley-cropped-1.jpg?itok=BLX7fmWK) 

##### Sophia Bagley 

Research Associate