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Within four years of repealing the law, Cambridge, where "the city's form of rent control was unusually strict," saw new housing and construction increase by 50%, and the tax revenue from construction permits tripled. [12] Property values in Cambridge increased by about $7.8 billion in the decade following the repeal. [10]
Rent control laws define which rental units are affected, and may only cover larger complexes, or units older than a certain date. To attempt to not disincentivise investment in new housing stock, rent control laws often exempt new construction. For example, San Francisco's Rent Stabilization Ordinance exempts all units built after 1979. [63]
This came in the face of lobbies from real estate interests for a 15 percent increase on the cost of rent controlled units. [13] They continued to campaign in 1963 for more low-rent housing, instead of rent increases, as a solution to housing shortages in New York City. [5] In 1968, they published The Case for Overall Rent Control. [14]
As of March 2024, the median rent price in the Boston-Cambridge-Newton area is $3,939.50, according to a report released in April 2024 by housing inventory website Rent.
Public housing is a form of housing tenure in which the property is usually built and owned by a government authority, either central or local. In some countries, public housing is focused on providing affordable housing for low-income earners while in others, such as Singapore, citizens across a wide range of incomes live in public housing.
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A more recent study on the subject of housing elasticity found an opposite conclusion; while newly constructed housing was often purchased at higher prices, the increase in supply at the high end of the market drove down prices everywhere else, leading to material benefits for people across all income groups.
Metropolitan area 2023 2022 2021 2018 2017 2016 2015 2014 2013 2012 ... Boston-Cambridge-Newton, MA-NH (Metropolitan Statistical Area) 610,486 571,666 531,671
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