Oregon is about to act statewide rent control - thoughts?

[Danny Grey]

https://www.oregonlive.com/politics/2019/02/oregon...

So the Oregon Senate just passed a bill to make Oregon the first U.S. state to have rent control everywhere in the state and NOT allow cities/jurisdictions to opt out. It also includes expanded tenant "protections". It's expected to pass the House easily, and governor Kate Brown said she's going to sign it into law, making it effective immediately.

Oregon was already very "tenant-friendly" and anti-landlord so this isn't exactly a reversal of course, but I'd love to hear your thoughts on the potential consequences of this move. It seems like it will do what rent control always does- stifle new development, lead a bunch of landlords to convert to condos, lower the overall rental supply,etc.

Thoughts?