Should Seattle Implement Rent Control? An Economics Discussion

This discussion post examines the contentious issue of rent control in Seattle, focusing on the economic principles at play. The student analyzes the rising cost of rent, the impact on residents, and the potential consequences of implementing rent control policies. The post considers arguments from both sides, including the effects on property owners, housing supply, and market dynamics. The student uses economic concepts to evaluate the fairness of the current system and explores alternative solutions. The discussion highlights the complexities of government intervention in the housing market and the need for a balanced approach to address affordability concerns. The post also references relevant articles and research to support the arguments presented. The student concludes that rent control might not be ideal for Seattle, but the situation is complex and requires careful consideration of all stakeholders.

Running head: RENT CONTROL IN SEATLE 1
Rent control in Seattle
Name of the student
Institution affiliation
Date

RENT CONTROL IN SEATTLE 2
Rent Control Might Not Be Ideal For Seattle
From Papers and news updates of economic stance in Seattle, the increasing and
uncontrollable rent in Seattle is alarming. In most countries across the world, a significant
percentage cannot afford to live in a better house. Kate Dunphy, an official in Washington, said
that government has not come up with a proper policy in providing housing facilities to its
citizen. Displacement has affected economic growth; hence most people cannot afford pay rent.
According to research, nearly half of the people who rent pay too much rent and at least 6,300
families face eviction every day (Chatman & Voorhoeve, 2010).
The situation in Seattle renting system and pricing is worsening to the side of the
consumers. That is indeed it worth Seattle taking a pass as the rent control would have adverse
effects. Controlling rent in Seattle gains political traction, concerns about income inequality and
gentrification. According to Zuka (2018), State laws for any Nation provide guidelines used to
protect the property of all citizens.
By controlling rent through the government through property acts, the tenants and
property owners will be affected in a given way. Property owners will experience high costs of
running in case pricing depends on the value of production. Hence, involving all stakeholders in
the housing sector is essential in making housing policy.
In summary, rent control is right in principle, and it violates fundamental property rights
moreover it is a failure of delivery. Controlling rent in an attempt to increase quality to afford a
house in Seattle would not just be enough to solve the problem.

RENT CONTROL IN SEATTLE 3
References
Chatman, D., & Voorhoeve, N. (2010). The transportation-credit mortgage: a post-
mortem. Housing Policy Debate, 20(3), 355-382.
Zuka, S. P. (2018). Effects of rent controlled public housing on the supply of private rented
housing and household mobility in seatle: a study of Seatle Housing corporation.
American journal of Theoretical and applied business, 4(1), 1.