Home 2018-04-18T21:01:16+00:00

Faced with a housing crisis, California could further restrict supply

“THE rent is too damn high,” read the signs brandished by tenant advocates at rallies held in late April in Oakland (median monthly rent: $2,950), Los Angeles (median monthly rent: $2,700), and Sacramento (median monthly rent: $1,895). The activists gathered, along with local politicians, to announce that they had collected the signatures necessary to include a proposal on California’s November ballot that would pave the way for cities to expand rent control. This, they feel, is the only way to mitigate the shortage of affordable housing in the state. The measure will seek to repeal the Costa Hawkins Rental Housing Act, a law passed in..." Click here to continue reading

May 17th, 2018|

Chicago wants rent control. State officials? Not so much.

"State Sen. Mattie Hunter, a Democrat from the South Side, is one of several lawmakers who introduced bills aiming to lift the ban on rent control, which would allow the local municipalities to more tightly control how much landlords can increase rents annually. Hunter’s version would establish elected rent control boards in every county that would adjust rents every year. The bill would limit increases to 1 percent above the Consumer Price Index for renters making up to 60 percent of the county’s median income. It would be capped at an annual increase of 5 percent. For renters making up to 120 percent of the median county income, it would limit increases to 2 percent above the Consumer Price Index, for a maximum increase of 6 percent. Opponents of the measure, including real estate and landlord trade groups, say it will hit landlords in the wallet by preventing them from charging market-rate rents. They’ll have less to spend on upkeep of the buildings, causing them to deteriorate, critics of the measure to end the ban said." Click here to continue reading

May 16th, 2018|



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