Supply of apartments and demand for apartments doesn't suddenly change under rent control so no, there's no market pressure making non rent controlled apartments more expensive hence there is no redistribution between renters.
Lucky renters get below market rate and unlucky renters get market rate.
There is only re-redistribution from rentiers (landlords) back to renters. 1% -> 99%.
I don't think rent control is the best solution for the housing crisis (100% LVT ftw) but it's intellectually dishonest to pretend that it hurts renters. It never has and it never will.
Yes it absolutely does. Demand doesn't change, but supply is artificially reduced because people with rent control are less likely to want to (or be able to) move out.
Unless you're talking about the people forced on to the street or out of the city entirely by rising rents...?
No, rent control also redistributes the burden of rising rental costs from people who have rent control to people who don't, and tends to make that burden larger than it would be otherwise.
> If you really want to incentivize home building you need to disincentivize land hoarding. That means repealing prop 13 or implementing LVT.
On this, we agree. And we can't just simply throw rent control in the trash overnight and expect everything to work out. It needs to happen in concert with other initiatives that increase the housing stock, and be phased out over time, with targeted help to more vulnerable people.
But I don't expect any of this to happen, at least not until things get to people-are-rioting-in-the-streets levels.