Rent control only helps people who already have a home and want to stay there forever. Everyone else loses because there are few vacancies. This means less job mobility, more difficulty recovering after being evicted, and less development, which further exacerbates the rent problem.
> 100% of this price hike is going into landlord's pockets
This is true, and the solution to this is a land-value-tax and to use that to offset the city's sales tax, which disproportionately impacts the poor. Hell, it would probably be enough if the city just assessed property taxes more accurately. My TL was bragging about his home being assessed at $800k, when it's easily worth $2M.
> 100% of this price hike is going into landlord's pockets
This is true, and the solution to this is a land-value-tax and to use that to offset the city's sales tax, which disproportionately impacts the poor. Hell, it would probably be enough if the city just assessed property taxes more accurately. My TL was bragging about his home being assessed at $800k, when it's easily worth $2M.