It’s not a cap on rent it’s a cap on raising it. Not much different than setting interest rates imo. I don’t know enough law about it but at least it’s an attempt? There’s a lot of talk here about how it doesn’t solve the underlying problem but I don’t see people providing another solution.
I’d like to see property taxes increased with more single family homes owned. Let businesses keep the apartments let homes become a place to live and not an investment though.