The data is very mixed on that, no conclusive study has shown that rent control on its own reduces housing starts. Not to mention that multifamily properties are rarely held from construction through the period when rent control schemes kick in (typically no sooner than 15 years). In fact, standard property development pro formas typically factor for a sale of the property at year 15. Not to mention that while rent control does increase the tenure of tenants (which is a good thing!), very few rent control schemes actually have vacancy control, meaning that when the units do change over, the units can reset to whatever price the landlord deems reasonable. Many rent control schemes even provide allowances for landlords to make upgrades and increase rent accordingly.

At best, "rent control" in the US can at best be called stabilization, and often allow for above market increases. For example, under California's rent stabilization policies, which allows for up to a 10% increase per year, rent stabilized tenants sometimes receive a higher increase in rent than comparable non-stabilized units.