Posted on 09/11/2019 6:28:05 PM PDT by karpov
California lawmakers approved a statewide rent cap on Wednesday covering millions of tenants, the biggest step yet in a surge of initiatives to address an affordable-housing crunch nationwide.
The bill limits annual rent increases to 5 percent after inflation and offers new barriers to eviction, providing a bit of housing security in a state with the nations highest housing prices and a swelling homeless population.
Gov. Gavin Newsom, a Democrat who has made tenant protection a priority in his first year in office, led negotiations to strengthen the legislation. He has said he would sign the bill, approved as part of a flurry of activity in the final week of the legislative session.
The measure, affecting an estimated eight million residents of rental homes and apartments, was heavily pushed by tenants groups. In an indication of how dire housing problems have become, it also garnered the support of the California Business Roundtable, representing leading employers, and was unopposed by the states biggest landlords group.
That dynamic reflected a momentous political swing. For a quarter-century, California law has sharply curbed the ability of localities to impose rent control. Now, the state itself has taken that step.
The housing crisis is reaching every corner of America, where youre seeing high home prices, high rents, evictions and homelessness that were all struggling to grapple with, said Assemblyman David Chiu, a San Francisco Democrat who was the bills author. Protecting tenants is a critical and obvious component of any strategy to address this.
A greater share of households nationwide are renting than at any point in a half-century. But only four states California, Maryland, New Jersey and New York have localities with some type of rent control, along with the District of Columbia.
(Excerpt) Read more at nytimes.com ...
Exactly
Oh my! Rental property crash coming?
Exactly.
So, like NYC, CA will have less, more expensive housing and even more homeless. Leftists always drive full speed in reverse toward the ditch.
The bill limits annual rent increases to 5 percent after inflation
Limits turn into guidelines......................
And... lot of houses going to be sold not rented now.
Socialists screw up everything they touch.
The bill limits annual rent increases to 5 percent after inflation
That’s not much control. If inflation is 3%, then the rent can go up 8% per year.
was unopposed by the states biggest landlords group.
Hey dummies, way to get investors and developers out of the rental market. That’ll help with the supply of housing, yeah, that’s the ticket.
Yup. No actual rental housing, but it’s so cheap!!!
Or maybe they will pass legislation forcing people to rent out their spare bedrooms?
When was the last time anyone built a straight rental unit in New York City, under rent control?
The rents in CA. are already so high what the hell, the horse is already out of the barn!! Problem here is supply and demand there have been SO MANY illegals in the state more than one family living in an apartment or home the costs for rentals are outrageous!! Get rid of the illegals and rents will plummet!!! A studio one room apartment where I am is $1300.00 a month then you have all of your utilities on top of that!!! Renting a room in someone elses home is $800.00-$900.00 a month!!! Can you imagine paying that to live in this bastion of liberalism, where you have to speak Spanish in order to get b in your normal everyday life!!!
So the communists just guaranteed that the rent on every dwelling in CA will go up 5% every year. You can be sure that the legislature will knock the 5% down to near nothing. Since the supply of rental units will stagnate, they will soon get the State into the housing business, with corrupt cronies siphoning off billions.
All California’s should be required to rent every room in their houses to illegals and homeless...rent free. It is the only virtuous thing to do. To do otherwise would be white supremacist and racist .
...because rent control has worked to ease housing shortages everywhere else it’s been tried, right?
**** crickets ****
The bill limits annual rent increases to 5 percent after inflation
...................................................................
so inflation rate plus 5%?
Limits turn into guidelines......................
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Exactly. In the future landlords who would not raise the rent annually by that much now WILL!
It’s almost impossible to evict a tenant now. What fools.
They. Never. Learn.
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