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California Approves Statewide Rent Control

nytimes.com

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Re: California Approves Statewide Rent Control

#21

Post by bhauer »

I am a landlord in Oregon, but not California. The curious, although ultimately predictable, outcome of the new rent control measure in Oregon is that while I have historically had an arrangement with my property management to be restrained in annual rent increases, they are now advising a default annual increase of the maximum allowed (7 percent before inflation). This is because larger adjustments cannot be made if and when necessary due to market conditions, so it's smart to just steadily increase rent at the maximum rate permitted. If I agree, I believe the result will be more profitable for landlords, and hurtful to tenants.

The real solution to a housing problem is to incentivize and facilitate the building of more housing. ADUs, relaxed zoning, reduced building regulations, reduced fees for permitting, etc. I fear rent control is actually going to do more damage to the housing market than good.

Re: California Approves Statewide Rent Control

#22

Post by DevKoala »

Rent control is abused in SF. Every engineer I know, who has been living in SF for over 5 years is currently paying an absurd amount compared to their monthly income. I even sub-leased an apartment from a friend who took off a sabbatical, and he didn’t want to lose his rent control.

I don’t know who rent-control is supposed to benefit, but it seems broken. Eventually these places end up in the hands of people who know how to game the system. Just build more housing and the incentive will go away.

Re: California Approves Statewide Rent Control

#24

Post by dawhizkid »

For those living in SF, this significantly expands the number of eligible apartments for rent control. Right now only multi-unit homes/apartment complexes built before June 1979 have rent control. Now everything (except single family homes/owner occupied duplexes) built within last 15 years on rolling basis is eligible.

Given how slowly SF builds housing, the fact that anything built 2004 and earlier is eligible basically means almost everything except new high rises.

Re: California Approves Statewide Rent Control

#25

Post by baby »

DevKoala wrote: post #22

Rent control is abused in SF. Every engineer I know, who has been living in SF for over 5 years is currently paying an absurd amount compared to their monthly income. I even sub-leased an apartment from a friend who took off a sabbatical, and he didn’t want to lose his rent control. I don’t know who rent-control is supposed to benefit, but it seems broken. Eventually these places end up in the hands of people who kno…

Abused? When I moved here I heard horror stories of rent increasing suddenly. I did what any sane person would do. I looked only for rent controlled places before moving in.

Re: California Approves Statewide Rent Control

#26

Post by melling »

tmh79 wrote: post #4

The real solution here is to build more housing, as high prices are a market signal of a shortage. While I support more unit creation more than I support rent control, in the current crises we need both. What I still can't get over is how much of CA land use politics is pure generational warfare, the olds vs the millennials, and it seems that the millennials are finally starting to win some fights.

“That bleak picture — combined with three-hour commutes“

We could also consider building more, and better, mass transit.

Re: California Approves Statewide Rent Control

#27

Post by bgorman »

One thing I have noticed as I have become more aware is that many of our laws are aimed at trying to freeze a moment of time, often by piling on contradictory policies on top of each other.

Subsidize home loans Ban new construction Ban rent increases

It is no wonder why housing prices/rents continue to rise in these markets.

In software engineering sometimes conclude that a rewrite is necessary. How can we completely rewrite our regulations?

Re: California Approves Statewide Rent Control

#28

Post by phil248 »

rubicon33 wrote: post #6

Ah, because it worked so well in SF to ease housing prices! So why don't we expand the program? Will never cease to amaze me just now inept politicians are.

This program is vastly different than the program you are criticizing, in case you actually care.
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