Rent controls are often a popular market intervention, particularly in periods of inflation (so that rental prices will be kept 'reasonable') and...

Rent controls are often a popular market intervention, particularly in periods of inflation (so that rental prices will be kept ‘reasonable’) and where tenants outnumber owners. They were first introduced in 1914 in Paris and the UK, in 1941 in New York, and in 1975 in Ontario. Some of these controls still exist today. Analyze the implications of introducing such controls.