It's up to the landlord to negotiate based on his individual situation (condition of the unit, demographics, furniture, etc)
Not different from a company asking for "market data" regarding salaries and use that to _guide_ their salary offers to new candidates
In the end the company will adjust their recommendation based on results/feedback from candidates (some companies could be popular/well liked and get away with lower compensation, and vice versa)
You can only outbid someone if you have more money than them. The lower on the income scale you are, the less this is an option, until it just stops bring an option at all!
Not to mention, it is drastically unfair and inhumane to consign people to live in the streets simply because they are poor, or simply poorer than the next. Rent control gives a measure of dignity to the poor, and ensures that -- at least a little bit -- when times get hard, we all suffer, the rich renters and the landlords too, not just the poor renters.
Until you have to actually pay the rent you bid.
> if supply doesn’t match demand, you just go homeless
This is true in both situations. Only in the second case instead of whatever rich asshole wants to move there getting the rental, the people who have lived there for decades already do.
Now take those decisions en masse: you want a city with a healthy economy, but the city is now stuck since it’s labor resources become illiquid along with its rental market. Now, some people want that, but HN readers (I think?) will be biased towards vibrancy.