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 in the city of Sacramento, we must work together as a community to increase the supply of a diverse variety of housing at all income levels,” said Linda Wood, president of the Sacramento Association of REALTORS. “Rent control will hurt the market long-term and does not guarantee affordable units go to those with the greatest financial need.”
“We need more housing, not more politicians,” said Joshua Wood, CEO of Region Business. “The creation of a new elected board of mini-city council members with unchecked power and the ability to artificially stymie the rental housing market with new regulations is a tired idea that has failed multiple communities across the state. In the midst of a housing crisis, this proposed initiative is an illogical idea that only exacerbates the problem.”
“This measure will discourage the construction of much needed multifamily housing, resulting in greater impacts on working class Sacramentans,” said Tim Murphy, CEO of the Sacramento Regional Builders Exchange. “The best solution is to build our way out of this crisis.”
“For the last few years, real progress has been made in terms of increasing the available housing options in the city’s urban core,” said Michael Strech, president and CEO of the North State Building Industry Association. “Several high profile, multifamily communities are under construction, with more in the pipeline. However, this rent control measure would quash all of the forward movement we’ve made to this point and put a stop to the city’s previously stated goal of building 10,000 new housing units over the next 10 years.”
The five organizations are building a broad coalition of community leaders and organizations to educate voters on the costly and autonomous new government body that would be established should the rent control measure pass — and to promote viable solutions to the housing shortage.