The first three months following the approval of a Minneapolis rent control law by voters, permits to build multifamily housing have fallen 80 percent despite overall construction being up. Like other rent control laws, Minneapolis’ law does not exclude new units. While some of the units are being built, the developers indicated that the prices for rent will be higher than what they originally intended.
Brickbat: Who could have foreseen this? Reason.com first published the post Brickbat: Who Could Have Foreseen?