Since when did living in NYC become a right?

But that's besides the point. You are too focused on the needs of one group of people.

What happens when there are no price signals in the market? Who determines where who lives? The corrupt NYC government?

What happens when capital flows out of real estate and no one builds anymore because you capped rental increases? Where are new people coming to the city going to live?

What happens when you limit rent increases to the point it doesn't cover taxes, utilities, or maintenance? What, LLs just going to eat the loss? Print money in their basement?

There are so many factors and stakeholders that advocates like you gloss over.