Since there’s commie style rent control in NYC, an existing resident is not leaving due to housing costs.
I guess that’s one way to keep your voter base.
Rent control will scare away the real capital investments -> improvements needed to make places nice to live. When such a system exists then the investors are playing roulette & they can only win if they are super tight with a corrupt political system.
Anyone wanting long-term stability and fairness LOSES in such a system.