Originally Posted by Hobartlemagne
Of course eliminating rent control won't lower the prices of luxury condos. If the problem the OP posed was
unbearable overcrowding, then eliminating rent control will raise rents and make people move to another city who's rent prices are in their budget.
Which in turn will increase congestion because they will need the lower wage scale people to work in that area....which is one of the reasons I don't live in our nearest large city, property values are too high for what you get for your money, as pointed out by a previous poster the small village mentality with big city management (paraphrasing here
)
Aaron
