New housing takes some time to build, so rent control creates larger shortages in the: |
Ans.
Rent control is the regulations made by the governments to
control the rents charged by the landlords for the tenants. These
laws limit the rent that the owner can charge for his house as
rent. The reason for doing this is that the people who are poor or
with low income group they can afford to pay the rent and are not
homeless.
IN the given question if the new housing takes time to build, the
rent control laws will create larger shortage of the homes in over
a long period of time.
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