Rather, rent control is a wealth transfer from "people who have moved recently" to "people who have not moved recently." Poor people move too, all the time, fo

Rather, rent control is a wealth transfer from "people who have moved recently" to "people who have not moved recently." Poor people move too, all the time, for the same reasons as anyone else. They're the ones who get screwed the most by rent control when they do. When you move into a new rent-controlled unit, you're subsidizing everyone in all the other properties owned by that landlord who moved in before you. Your personal wealth level has nothing to do with it.