“In many cases, rent control appears to be the most efficient technique presently known to destroy a city except for bombing.”

Q: Bomb damage or rent control? (Answer here.)

"Rent control sounds like a good, humanitarian idea. ... Why, then, are virtually all economists opposed to rent control. Are they that hard-hearted? Well, yes. This cannot be denied. But that is not the explanation. Rather, it is due to supply and demand analysis.
    "When a price ceiling is placed below the ... point where [markets clear, i.e., ], where supply and demand curves intersect, the latter is greater than the former. That is, a shortage of the commodity or service ensues. This applies to all items bought and sold, whether it is ships and sailing wax or, more to the point, residential rental accommodation.
    "Even highly credentialled leftist economists denigrate rent control for this reason. In the view of Gunnar Myrdal: 'Rent control has in certain western countries constituted, maybe, the worst example of poor planning by governments lacking courage and vision.' According to Assar Lindbeck: 'In many cases, rent control appears to be the most efficient technique presently known to destroy a city except for bombing' ....
    "[R]ent control is like holding a tiger by the tail. It is dangerous to hold on, and even more so to let go."

~ Walter Block from his post 'With Rent Control, We Need the Courage To Do the Right Thing'

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QUIZ: Bombing or rent control? 

Can you tell the difference?