Pretty much what the title says. I was reading an article on Bisnow (can't post links but it's talking about CA's new 5%+inflation rent hike cap) and I was wondering what everyone here thinks of the topic of rent control. Do most real estate models rely on >7% annual rent hikes, making this law cause a major change in the way we do business? Or are people overreacting? We've all seen the supply & demand curve with a price ceiling in Econ 101 but I think putting a cap on the growth rate and putting a hard cap on the price itself are two different things.
Interested to hear what more experienced professionals think of the whole thing.