You don’t want to wreck individual lives just because you want efficient price-finding. Rent control that protects tenants from super-nominal price increases works fine in the presence of abundant supply and liquidity. You can see how successful this can be in places like Belgium where standard lease is rent controlled for nine years with an option for additional nine years. This is enough time for a family to become established and raise children without being sacrificed on the alter of market signals. It is the kind of policy you get when you view tenants as people rather than revenue sources.