I moved to my city less than three years ago, not ten. I was not “lucky” to get my rent-controlled apartment: just had some foresight and was diligent in my search. My rent is high, but not as egregious as what the recent AI migrants are paying. (New upstairs neighbors are literally paying $2000/m more than we are for the same floor plan.) Thankfully, I have no fear of getting kicked out of my home due to a sudden rent spike, so I can focus on building a life.

None of this seems egregious to me. Yes, existing residents are prioritized over new residents. This feels like an obvious tradeoff if you want to maintain community and QoL. The alternative is prioritizing the rich — landlords and wealthy renters alike. I do not want to live in a city where money has the final say.