Implementing rent control policies, such as the one in Washington, will cause investment and capital to be redirected to other areas, mirroring historical outcomes observed in Oregon and parts of California where rent control led to stagnation of older housing stock.
"Instead of looking at their zoning and allowing more construction in areas to actually soften it for both the renters and the homeowners and lower prices by adding more supply, what they've decided to do was implement policy to restrict the rents on many, many units, which is just going to redirect money to other areas just like it's done to Oregon and areas of California that are sitting on really old housing stock and from the 40s and the 50s and the 60s."
