Rent control has been practiced in New York City since the 1950s.

"The problem, though, is that these programs actually make the city much less affordable for those unlucky enough not to live in a rent-regulated apartment, Mayer says. The absurdity of New York City’s housing market has become a standard part of many Econ 101 courses, because it is such a clear example of public policy that achieves the near opposite of its goals."  So says the New York Times.  http://www.nytimes.com/2013/07/28/magazine/the-perverse-effects-of-rent-regulation.html