The Wages of Rent Control

Barely a month has gone since New York passed its new rent-control law, and the predictable problems are fast emerging. Blackstone Group , which owns the Manhattan developments of Stuyvesant Town and Peter Cooper Village, is putting renovations on hold, reports Crain’s New York Business. “In light of the recent legislation, we are in the process of evaluating capital investments at Stuy [...]

2019-07-23T09:39:14-07:00July 23rd, 2019|Uncategorized|

New York Rent Control: From Bad to Worse

New statewide rent control laws have thrown the New York City apartment market into turmoil, with prices of properties impacted dropping sharply overnight and the possibility that it will lead to the deterioration of housing stock and depress the amount of supply. The law – the Housing Stability and Tenant Protection Act of 2019 – [...]

2019-07-19T10:48:32-07:00July 19th, 2019|Uncategorized|

New York Landlords Call Rent Control Laws An ‘Illegal Taking’ In New Federal Lawsuit

New York landlords are attacking rent regulations in a new federal lawsuit, claiming that capping what they can charge tenants in rent is equivalent to an illegal taking of property. Last month, housing advocates in New York celebrated sweeping new laws that established rent control permanently and extended tenant protections beyond just New York City, allowing [...]

2019-07-19T09:52:37-07:00July 19th, 2019|Uncategorized|

New York Passed Sweeping, Progressive Rental Regulations. Now It’s Getting Sued.

New York's new rental regulations are an unconstitutional violation of landlords' due process and property rights, argues a new lawsuit filed this week in federal court. Late Monday, the Rent Stabilization Association (RSA) and the Community Housing Improvement Program (CHIP), two landlord trade groups, filed a lawsuit against New York City, its Rent Guidelines Board [...]

2019-07-19T09:44:21-07:00July 19th, 2019|Uncategorized|

Housing in Brief: California Rent-Control Bill Advances

California Rent-Control Bill Advances An “anti-rent-gouging bill” cleared a state Senate committee Tuesday, bringing the state of California closer to universal rent control, Curbed reports. The bill, which still has to clear another Senate committee as well as the full Senate, would cap rent increases at seven percent plus the rise in the consumer price [...]

2019-07-12T16:14:19-07:00July 12th, 2019|Uncategorized|

California Is One Step Closer to Statewide Rent Control

In May, a half-dozen bills aimed at alleviating California’s housing affordability crisis were killed in the Senate, in what has been called the “the worst month in California’s housing policy history.” Yesterday, one of the few stragglers that survived, “anti-rent gouging bill” AB 1482, cleared the Senate judiciary committee. If passed, it would expand “just cause” eviction [...]

2019-07-12T16:11:56-07:00July 12th, 2019|Uncategorized|

Berkeley Homeowners Fight Arcane Wording That Could Subject Duplexes to Rent Control

Evan Meyer and his wife Gay Lee Gulbrandson have owned their house on Hopkins Street in North Berkeley since 1973. The 1,600-square-foot home was just the right size to raise their family of three kids — and it provided an extra financial benefit. There was a second, 1,900-square-foot, three-bedroom home on the property, which the [...]

2019-07-10T16:37:59-07:00July 10th, 2019|Uncategorized|

How California’s Housing Crisis Could Hit Seniors Hard

Good morning. (Here’s the sign-up, if you want to get California Today delivered to your inbox.) It’s Tuesday. So far this week, my colleagues have reported on why the ShakeAlertLA app didn’t notify Angelenos about the two big quakes that jolted Southern California and how Representative Eric Swalwell became the first Democrat to drop out of the presidential race while the [...]

2019-07-10T16:35:58-07:00July 10th, 2019|Uncategorized|

Link REIT Rent Control Bill Appears Doomed

A Hong Kong politician’s attempts to meddle in the commercial operations of Link Reit appears to be foundering after officials described a proposed rent cap on the trust’s malls as out of line with basic law. Three months ago, lawmakers Regina Ip and Alice Mak, released draft legislation recommending rent caps for shops in public [...]

2019-05-29T11:33:51-07:00May 29th, 2019|Uncategorized|

Spain’s Most Aggressive Rent Controls to Soon Hit Barcelona

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. After seeing housing costs jump by more than 50% in the past five years, officials in Barcelona are moving to introduce Spain’s most aggressive rent controls. Under a decree published last week, landlords will have to negotiate leases based [...]

2019-05-29T11:21:24-07:00May 29th, 2019|Uncategorized|