Rent Control (absolute caps on prices) doesn't make sense. In NYC, a small number of apartments are under it and have ridiculously low rent. Rent Stabilization

Rent Control (absolute caps on prices) doesn't make sense. In NYC, a small number of apartments are under it and have ridiculously low rent. Rent Stabilization (limiting how much landlords can raise rent on existing tenants) sounds like a bad idea economically, but it can be very hard on tenants to have their rent raised dramatically so they're forced out of their homes. The initial rent prices are set by the market, so it shouldn't discourage investment and development of buildings.