To be clear, this is a 20 year old article, the literature on rent control has changed a lot since this was written. Basic economic consensus rn seems to be that rent control is a poor long term solution to rising housing costs but a necessary short term solution as the required supply shock wouldn't even be able to happen in the near term even if regulatory barriers are eased due to labor, construction, and land costs in expensive metros and that the anticipated negative impacts of rent control (less liquidity in rental market, higher prices) dwarfed by the impact of lack of supply.