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Expanding rent controls in Ontario will further damage housing affordability

There’s growing interest at Queen’s Park for the expansion of rent controls to address high rents in Ontario’s biggest cities. Most recently, Premier Kathleen Wynne (pictured above) expressed skepticism that a former Ontario government’s removal of rent controls on relatively newly constructed buildings did anything to meaningfully boost the rental supply. The implication here is that in light of rapidly rising rents, mandating lower rents is the preferred solution.But a quick review of the economic theory and empirical evidence surrounding rent control shows this would be a badly misguided policy response.In a normal housing market, the price of housing, like

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