MJP –
Voters in California will have the opportunity to overturn a 1995 law and potentially expand rent control statewide in November.
At present, local governments are unable to cap rents on newly constructed residences or single-family houses due to the Costa-Hawkins Rental Housing Act.
The long-running argument over how to address California’s housing affordability dilemma has been revived by Proposition 33, which will be on the ballot in 2024. The crisis is at the heart of issues like homelessness, traffic congestion, and, ultimately, quality of life.
For properties constructed after 1995 or after a municipality established a rent control legislation, as well as for single-family houses and condominiums, Proposition 33 would grant local governments the authority to create or broaden rent control regulations.
Once again, rent regulation is coming to the California ballot.
Proponents of the measure, such as the AIDS Healthcare Foundation, contend that, in light of the state’s persistently rising housing expenses, it is imperative to strengthen rent control in order to safeguard tenants.
The California Apartment Association and the California Association of Realtors are among the groups who are opposed to expanding rent control, arguing that it could discourage the construction of new housing and lead to a decline in rental property values.
The Sacramento Bee reports that the group has reportedly donated $27 million to an anti-measure committee.
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According to the official voter guide of the state, these are the reasons in favor of and against Proposition 33:
Pro: “The rent is ridiculously expensive. California has lost one million residents. People have been able to remain in their houses thanks to rent control in the United States since 1919. Relief is necessary for the 17 million renters in California.
Stable communities are good for homeowners and taxpayers. The California dream is on its last legs. Save it with your help.
Cons: “The newest anti-housing corporate landlord plot is a hoax. Don’t fall for it. Voters in California have already turned down this extreme plan twice for similar reasons: it would put a halt to home development and potentially roll back a slew of recent housing regulations. Protect new affordable homes and California homeowners by voting no on proposition 33.
