Price controls on a market are always gross populist policy. Supporting rent control is just as evil as supporting NIMBYism and housing crisis denial. It's the exact same "Fuck you, I got mine" mentality. People who are already renting are the current voters, so absent of morals and rationality they pursue rent seeking political policy surrounding leases at the expense of future renters. "I don't care if all future renters are forced to pay more to subsidize me, don't let
my rent go up!". In the exact same way people who already own property are current voters, so absent of morals and rationality they pursue rent seeking political policy surrounding home ownership at the expense of future home owners. "I don't care if all future home buyers are forced to pay more to subsidize me, don't let
my home value go down!"
By their powers combined, we get no new units built and housing prices skyrocket making homeowners rich, while at the same time our sweet precious existing renters and their votes are protected for the rest of their life. Everyone established (voters) is happy and healthy. Fuck you to the youth coming of age and wanting to live in the city, fuck you to immigrants/refugees trying to make Vancouver home, fuck you to people who would need to upsize to start/grow a family, fuck you to people in the interior/rest of Canada who could move to Vancouver for economic opportunities.
I support so much NDP policy and in general I believe it comes from a more rational, long term focus than BCLIB policy, but rent control is so horrible and indefensible on its own I don't know who to support anymore.