All that's going to happen is developers will bypass the market and existing units will crumble, or get reclassified as condos.
The homelessness is caused by NIMBYism from elites, subsidization from housing vouchers, and local/state zoning laws that prohibit where builders can build or what specifications they have to meet.
Let them suffer.
No one needs to debate this.
Free housing for everyone is promised by Bernie and AOC, right? Like income guaranteed and health care guaranteed?
They didn’t lie to us, did they?
Rent control in a tight rental market just means more rental housing will not be built, creating a downward spiral. This will not end well.
Plank #1 of the Communist Manifesto: Abolition of private property in land and application of all rents of land to public purpose.
Homelessness is going to skyrocket in Oregon as a result of this bill. Huge rent increases were handed out by many landlords the week before the bill was signed. Others will put their rental houses up for sale.
And they haven’t done a damn thing about the actual housing shortage like fix the zoning issues or reduce the permitting costs (which are huge in the cities with the biggest problems like Portland.
“Choices” in housing? Joking, aren’t they? Owners will soon be unable to maintain facilities, and rentals will become dumps.
How does that work in Pendleton?
Joseph?
Yes, but it will take years before they see the dilapidated properties that owners will refuse to keep up because it would be unprofitable to bother; and most of those to blame will be out of office.
Perhaps some large scale developments will be cancelled, and perhaps the housing market will cool, and maybe property tax income and property transaction tax revenues will start to fall sooner than that, which would be the warning signs for them to wake up.
Translation: We are going to be doing a LOT more to take control over your assets and business decisions and residential choices.
And we all know the outcome.
Belay that.
Conservatives all know the outcome.
Yeah,Gov: when your people are struggling with a tight rental market, signing a bill that creates a disincentive to build rental housing is the perfect answer... unless you want the problem solved.
Watch house prices decline as investors exit the rental market. Downward spiral of all things socialist.
I live in Oregon.
Kate Brown and her fellow goddamned libs who fled California to find refuge in Oregon are destroying this state with their unicorn fart chasing ideology.
She is Cumb Dunt of the first magnitude.
Socialism defeating itself, as usual.
Maybe the state will start suing the cities to build more low income housing at taxpayer expense.
.
In our neighborhood the price of housing has escalated greatly in the last few years. The number of rentals has decreased drastically. People who were renting their houses have started selling them. The return on the amount of money they can get for the house is more than they can get from rent without all of the hassles. They can also keep from paying capital gains by doing a 1031 property exchange and reinvesting the money in other types of property.
Rent controls would further exacerbate the shortage here by discouraging investment in new apartments and other forms of rental property. It is sad that this misguided legislation harms the poorest people and people just starting out the most. Seattle passed an ordinance forbidding landlords from doing a background check on renters, because violent criminals shouldn’t denied housing.
“11. Abolition of unearned (work and labour) incomes. Breaking of rent-slavery.
17. We demand a land reform suitable to our needs, provision of a law for the free expropriation of land for the purposes of public utility, abolition of taxes on land and prevention of all speculation in land.”
Straight from the NAZI party platform of 1920. Hitler walked back plank 17 in 1928. So the Oregon politicians are more orthodox Nazis than was Hitler.
They will wonder why there are BMWs, Teslas, and high end Mercedes cars parked out front of rent controlled buildings.
If there is not enough “affordable” housing than in more ways than one government is interfering in the market’s ability to produce it.
Oregon, have messed with housing rules so much, now attempts to go full-socialist, taking completely charge of a market by law, to fix what government interfering in markets created.
What idiots. All they had to to was to look at New York City and its rent control and admit that as for getting more “affordable housing” built, THAT has never happened. Why? Rent control makes it LESS likely that more affordable housing will be built, no matter how many current renters it grandfathers into below market rents.