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While Economics 101 generally treats rent control as bad policy, a group of economists say that model is being proven wrong.

A group of economists and academics last week sent letters to the federal government, calling on the Biden administration to establish federal rent control and tenant protections for the 12 million renters nationwide living in properties with federally backed mortgages.

Signed by 32 economics and 143 academics, the letters complement a broader Homes Guarantee campaign launched by People’s Action, a national network of political organizations that aim to build power for working people.

“Nationally, median rent has surpassed $2,000 for the first time, and there is not a single state where a worker earning a full-time minimum wage salary can afford a modest

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