Providence is facing a real housing crisis, but the answer isn’t more restrictions that limit supply and slow growth. Rent stabilization policies have been shown to shrink the number of available homes, discourage new construction, and delay the investments needed to maintain safe, quality housing. When housing becomes harder to build and operate, fewer units come to market, and costs rise for everyone.
These policies also reduce choice and mobility, making it harder for families to find homes that meet their needs. They place the greatest strain on small property owners, who are often working with tight margins, and add layers of bureaucracy that increase costs without solving the root problem. If we want real affordability, we need to focus on what works: building more housing and expanding supply, not limiting it.