It leads crappier neghborhoods in disrepair and can even increase crime (see Freakonomics episodes on that) Rent controls don't work rent control programs lead to abuse and poor property maintenance when there is no incentive to keep them upWith housing providers unable to base rents on actual costs, manyhttps://www.economist.com/the-economist-explains/2015/08/30/do-rent-controls-workThey're also spreading to Portland, San Francisco, Sacramento, Irvine, Los Angeles, Seattle, Boston and other citeswill be unable to properly maintain their buildings.

Overstock.com is working on this through a JV with Hernando de Soto to document land titles in underdeveloped countries.https://www.crowdfundinsider.com/2017/12/125858-blockchain-jv-overstock-founder-patrick-byrne-economist-hernando-de-soto-partner-global-property-registry/

If nothing sold that was 20% COC you either need to adjust your criteria or cut bait.To paraphrase a famous economist, "at some point the market will correct however at some point we will all be dead."

My general opinion, and I believe it's supported by most economists, is that rent control is bad housing policy for a number of reasons including that it does nothing to actually address the root cause of high rents.

Especially, when their chief Economist gives feedback.

A lot of major economists still predict rates falling within the next 12 months. 

In a recent survey, the Wall Street Journal reports 63% of economists feel that there’s going to be a recession sometime over the next 12 months.

-Lisa Cook JAN 6, 2023“If they’re doing a forecast, which is what they should be doing, it strongly argues that their rate increases should be coming to an end soon,” -Mark Zandi Moody's Chief Economist JAN 12, 2023Non-farm payrolls rose 223,000 in December, as the strong jobs market tops expectations.

“As we enter 2023, we expect affordability to remain the top challenge for potential homebuyers, as even small declines in rates and home prices — from the perspective of the buyer — may not produce sufficient purchasing power,” said Doug Duncan, Fannie Mae’s senior vice president and chief economist, in a release.

From yesterday's Epoch Times "“Monthly payments have increased by more than 50 percent in just four months because of higher mortgage rates,” said George Ratiu, a senior economist with Realtor.com".