While it’s true that rent control is Econ 101, what’s being proposed now a days is not a strict price cap. It allows for increases above and beyond inflation,

While it’s true that rent control is Econ 101, what’s being proposed now a days is not a strict price cap. It allows for increases above and beyond inflation, and generally above the kind of returns one could get on the stock market (in Oregon’s case it’s 7% plus CPI). There’s also a carve out for new construction. That incentivizes capital to go to increasing supply, as opposed to the current situation where flippers add a new coat of paint, buy some stainless steel appliances and then jack up the rent.