system
A chat on subreddit /r/NoStupidQuestions
human
For some people, their home is their only asset of value and/or their only investment (or, at least, the equity in it). If you cap the price, you limit that…so people are going to be against it. 

I think what would be better, and what has worked in other countries is limiting the purchasing of residences by investors.  Speculation is what really drives up prices. Investors can corner the market then drive up prices.
gpt
If we had less zoning restrictions people would build more housing beside those units and rent them cheaper if it was financially viable. People aren’t going to refuse a money making opportunity to help corporations suck up all the rent. The reason people don’t do it today is zoning restrictions.