Our housing shortage is caused by a multiplicity of rules and nonsensical regulations...Many economists believe that rent control is a failure that has resulted in fewer units of lesser quality at a higher price. Swedish economist Assar Lindbeck describes rent control as being the “most efficient technique presently known to destroy a city — except for bombing.”
The move to a platform such as Airbnb is a rational move by property owners. The District can limit Airbnb but another platform would likely pop up in its place . If it were truly interested, the D.C. Council would jettison rent-control regulations and allow all units to move to their market-supported price..