This is so baffling but you're right, a price floor (that is, setting a minimum rent) would create a feeding frenzy for new housing units to come online, since

This is so baffling but you're right, a price floor (that is, setting a minimum rent) would create a feeding frenzy for new housing units to come online, since they would backstop risk. Clearly terrible for tenants -- no deals to be had for anyone -- but might actually be better for society!