Rarely is there consensus around a public policy issue. However, economists are overwhelmingly unified in their opposition to rent control. Rent control has huge negative impacts on housing markets by limiting the incentive to invest in new and existing apartment housing, slowing the production of new supply, and exacerbating housing affordability challenges. All of these factors combined raises housing costs while contributing to the deterioration of housing stock. Rent control harms entire economies by stunting growth and contributing to lowered property values. PAA firmly opposes rent control policies and instead supports policies that encourage increased supply as the solution to affordability concerns.