Both Harris and Trump need an answer to housing crisis

The nation's housing crisis might not be the top issue for Trump and Harris, but fixing it is essential. And to do it right requires fewer laws instead of ideas like rent control.

Then, there is the Harris proposal to shovel money, to the tune of $25,000, to new first-time homebuyers. On top of that, Harris proposes to spend $40 billion in subsidies to the housing industry. The cost to taxpayers would be monumental.  James Burling is vice president of legal affairs at Pacific Legal Foundation, a public interest law firm that defends Americans’ liberty against government overreach and abuse. 

Take Harris’ proposal to impose federal rent control on corporate-owned rental housing. Economist Assar Lindbeck once called rent control the most effective way to destroy a city other than wartime bombing. Study after study has shown that rent control discourages the construction of new homes and apartments and increases the overall cost of housing in rent-controlled jurisdictions while lowering the quality and availability of existing housing.