Brickbat: Who Could Have Foreseen?


In the first three months after St. Paul, Minnesota, voters approved a rent control law, building permits for multifamily housing are down 80 percent, even as overall construction is up. Unlike rent control laws in other cities, the Minneapolis law does not exempt new units. Some units that were already planned before the law passed are still going forward, but developers said they are going to price the rents higher than they had planned.