There's a lot more "catching up" to do in a highly rent-controlled market (assuming you're not subject to rent control). For the same reasons "market rate" is artificially high (as pointed out by the linked article), the "market rate" goes up by a very large percentage each year. If all units were market rate, the market rate would not be increasing by nearly as much.
I live in Somerville, MA, which does not have rent control. My rent has gone up by at least 10% every year for the past 4 years. This is not sustainable.
No, it isn't. Unless inflation is at least 10% as well - and wages keep up.
But imagine if Somerville did have rent control. The minority of units on the market would have rents go up by much, much more than 10% a year, and people who need a new place would be screwed. This is what's happened in SF.
