CAA among regional industry groups opposing rent control measure in city of Sacramento
Five regional industry organizations, including the California Apartment Association, have joined forces to lead opposition against a proposed ballot measure that would bring rent control to the city of Sacramento.
“Rent control is the wrong solution to our shortage of affordable housing in the region,” said Jim Lofgren, CAA senior vice president for the North Valley region. “We need to attract more investment in housing, and rent control only scares it away. It’s counterproductive.”
CAA supports sensible solutions to California’s housing crisis, such as the Veterans and Affordable Housing Bond Act, a state measure on the November 2018 ballot that would provide $4 billion towards solving the housing shortage.
The rent control measure, on the other hand, would undermine efforts to build more housing and create a costly new government agency, say leaders of CAA and the other industry groups: the Sacramento Association of REALTORS, Region Business, Sacramento Regional Builders Exchange, and North State Building Industry Association.
“While we are empathetic to the current high costs of housing …