Ya, you can’t restrict the market and still keep it capitalist. In Seattle, new regulations on price increases along with an indeterminate moratorium on evictions is definitely going to make landlords really careful on credit checks. I also wouldn’t be surprised if the low end rental markets disappear completely as they become too risky to operate in as landlords.

At the very low end there will still be a market for Section 8 housing.

Ya, but it is going to suck for those who don't qualify for section 8 yet can't afford high end rents. Probably the government will come in fill those gaps long term.

Having rented in Seattle for 6+ years at essentially the lowest non-subsidized price point, these existed before, along with a variety of other problems.