BY BRAD BECKETT ON SEPTEMBER 24, 2019
If you’ve been following the Rent Control issue, you will undoubtedly be familiar with current epidemic of “do-something-ism” regarding the issue. Just recently, California’s governor signed landmark Rent Control legislation (even after voters rejected rent control at the polls last year) that limits (among other things) rent increases to 5% per year. The Manhattan Institute’s City Journal recently posted a short essay called “A Conspiracy of Entitled Incumbents, California’s new rent control law will please homeowners while setting back housing construction and affordability” that quite succinctly sums it all up. Indeed…
“…shambolic housing policies such as California’s latest version of rent control will only make everything harder. It will likely take a crisis—perhaps an exodus of businesses and residents—to force change.”
Click here to read the full article at the City Journal.
California enacts statewide rent control – HousingWire (10/8/19)