In 2020, St Paul, MN passed a bill to cap rent increases at 3% annually, with some additional stipulations (like giving adequate notice so families can find new housing before rent increases). There was a huge misinformation campaign led by wealthy national development corporations calling the bill "rent control," which is a different thing. Once the bill passed, most of the new housing construction came to a halt as development companies divested from the Twin Cities.
It felt like a whole commentary on what is driving this crisis, even when politicians deliver on their end.
In 2020, St Paul, MN passed a bill to cap rent increases at 3% annually, with some additional stipulations (like giving adequate notice so families can find new housing before rent increases). There was a huge misinformation campaign led by wealthy national development corporations calling the bill "rent control," which is a different thing. Once the bill passed, most of the new housing construction came to a halt as development companies divested from the Twin Cities.
It felt like a whole commentary on what is driving this crisis, even when politicians deliver on their end.