The rent control fight in California has ramped up once again. Despite voters overwhelmingly defeating Proposition 10 at the ballot box last November, state Democrats introduced a package of housing bills March 14 to expand rent control in the state. It includes Assembly Bills 1482 and 36. AB 1482 would place a yet-to-be-determined cap on rent increases for units statewide that are not yet covered by local rent controls. AB 36 would make reforms to the Costa-Hawkins Rental Housing Act’s limitations on local rent control laws. It would allow cities to apply rent stabilization measures to rental units older than 10 years and extend these controls to single-family rentals and condos.
Oregon. Who wants affordable housing? Apparently not Oregon, which signed rent control into law last month. Contrary to the tenant’s rights advocates, rent control does not promote nor preserve affordable housing. According to a recent Stanford study, “Rent control has actually fueled the gentrification of San Francisco, the exact opposite of the policy’s intended goal.” The majority of economists agree, which is in of itself a rare occurrence. Rent control is not the answer to our nation’s affordability crisis. Streamlining burdensome regulations is. The truth is over-regulation discourages economic activity at a time in which we need to build 4.6 million apartment homes at all price points by 2030 to meet current demand. By implementing this policy, Oregon has harmed the one form of development that ensures the most diverse environment of housing, while claiming to want more of it.
NAA is monitoring the full package of bills and will keep members apprised of their scope and nature as they develop. Contact NAA’s Alex Rossello if you have questions concerning this news.