I know the Oregon real estate market well since I grew up there and bought my first rental property when I was 14. Given that, I know that Oregonians mean well with this new law; they want to control the out-of-control cost of living in their state.
But I have to disagree with rent control as the solution. In fact, this effort to help and support the state’s most vulnerable residents will unfortunately negatively impact them the most.
Why? Because rent control simply doesn’t work. Rather, it drives down construction, discourages investment in new rental properties and generally disrupts the rental market in fundamental ways.