As Rent Skyrockets, More Cities Look To Cap It

Today, rents in Mountain View have shot up as high-income earners flock to the Silicon Valley town to work at high-tech companies like Google.

"Our area has too many good jobs" and not enough good housing, said Siegel, who now sits on the city council. "People are paying more than they would expect for the quality of the unit they're getting."

Meanwhile, he said, low-income people are getting pushed out of the market, along with middle-class workers such as teachers, tech workers, even doctors.

But Siegel, who ran for office on a housing development platform, said that while rent control can help some people, he's no longer convinced that it is the solution.

"Rent control is a Band-Aid," he said. "The long-term solution is keeping supply and demand in balance. Unfortunately, cities around here are much more welcoming of employment growth than they are of housing growth."

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