> (...) creates an environment where the only people who can afford housing are the rent control lottery winners, and the very wealthy who can outbid everyone e

> (...) creates an environment where the only people who can afford housing are the rent control lottery winners, and the very wealthy who can outbid everyone else for the few remaining units. In other words, San Francisco. I would also add that it also creates the ideal environment for corruption and organized crime, as bribing decision-makers becomes the only way for some to have access to desirable housing. Supply and demand always works, and if those with a higher purchasing power are in the race then their highet offers are extended through side-channels.