A friend built a place (for STR) near Hilo (on da beeg island :) ) and with a flick of a pen, a politician made his STR useless. 

However, I never underestimate a politician's desire to reach into my pocket so until this is in bed for good I will be a little concerned.I have never been involved in the land business, but that sounds like a good strategy if you were facing a giant tax bill and the stepped-up basis makes it go away. 

Extreme statement like that Gives a lot of ammunition to certain flavors of politicians.

Ha ha.  ...at least for now it doesn't. depends which nutty politicians get their way in DC.

So the pressure is on the politicians to 'do something' which rent control seems to be the most politically expedient. 

Unfortunately, I think eviction moratorium are getting to be politicians it-cost-me-nothing-to-show-I-care-about-you law since they can count how many tenant vs landlord votes there are. 

This could be very painful if the Fed, politicians etc get some old time religion.  

Even if it did happen, politicians will always leave loopholes (for themselves) that great tax consultants will also be able to leverage. 

Honestly, I have no clue, I am not a politician.

Adding more generally democratic voters is attractive to any politician.