"Racist" Rent Regulation

In response to this news story, libertarian blogger Kip vents:

If rent regulation is going to exist, then let's at least be accurate about what it represents: counterproductive warm-fuzzy-feeling politics that violate every principle of elementary economics and do more harm than good. Race has nothing to do with it. That's about the only nice thing one can say about it - it's an equal opportunity disaster.

Amen.