News: LAO
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California’s nonpartisan Legislative Analyst’s Office today released a report predicting that Michael Weinstein’s Rental Affordability Act, or Proposition 10 2.0, would exacerbate the state’s chronic housing shortage by leading rental property owners to remove units from the market.
The proposition is Weinstein’s latest attempt to return
extreme forms of rent control to California through the statewide initiative
process. Weinstein’s previous bid for radical rent control — Proposition 10 —
failed miserably at the polls this past November.
The proposed statewide ballot measure would allow cities and
counties to impose rent control on buildings after they turn 15 years old.
Under… Read More