> These results highlight that forcing landlords to provided insurance against rent increases leads to large losses to tenants
—The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco[1]
The study largely fins that, in addition to rent control causing the available supply to decrease, and tenant mobility/freedom to decrease, it largely harms new renters, and results in a wealth transfer to existing renters.
It does not solve the problem, and it does not on the whole benefit society.
I mean, if it wasn't possible to exempt a building from the regulations, there wouldn't be an issue with rent control.
[1] https://www.crainsnewyork.com/article/20100610/BLOGS01/30610...
Even in that case though, what was the percentage of buildings burnt because of rent controls? if it was extremely low (as in less then 0.01%), then there is no real problem.
There was a photo-essay of the devastation (seriously, it looked like a war zone) posted on HN about a month ago. I can't find the link now, but if you Google "pictures of 1970s Bronx", the Image Search links give you a sense.