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A statewide rent control measure targeted for 2020 would likely drive rental units from the market, decrease apartment property values, and possibly diminish annual tax revenues by tens of millions of dollars or more.  Those were some of the predictions this week from California’s Legislative Analyst’s Office. The nonpartisan fiscal and policy adviser published an analysis Monday of the potential impacts of Michael Weinstein’s Rental Affordability Act, or as some are calling it, Proposition 10 2.0.  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… Read More

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Less than six months after Proposition 10 went down in crushing defeat, Michael Weinstein is again attempting to return extreme forms of rent control to California, a move that would decimate the supply of housing for California’s working families. On Friday, Weinstein filed preliminary paperwork with the state attorney general to place another statewide initiative before voters, aiming for the 2020 ballot. According to initial paperwork filed with California Attorney General’s Office, the new initiative seeks to create the Rental Affordability Act. Under this measure, cities and counties would be free to impose rent control on buildings after they turn… Read More

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A pair of bills that would greatly expand rent control in California will get their first test in the state Legislature next week. On Thursday, April 25, the Assembly Committee on Housing and Community Development will hold special hearings on AB 1482, which would apply rent control to every unit in California, and AB 36, which would weaken California’s Costa-Hawkins Act, allowing cities and counties to expand local rent control laws to single-family homes and newer construction.

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During his inaugural state of the state address, Gov. Gavin Newsom this week called on lawmakers to craft legislation that stabilizes rental prices without ruining the businesses of small landlords. “The pressures on vulnerable renters didn’t go away after the election,” Newsom said Tuesday. “We need new rules to stabilize neighborhoods and prevent evictions, without putting small landlords out of business. I want the best ideas from everyone in this chamber. Here is my promise to you, get me a good package on rent stability this year and I will sign it.” Beyond sparing the businesses of small rental housing… Read More

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Thanks largely to a campaign led by the California Apartment Association, voters in the Nov. 6 election overwhelmingly rejected Proposition 10, the statewide ballot measure that would have repealed the Costa-Hawkins Rental Housing Act and brought extreme forms of rent control back to the state. With 100 percent of precincts reporting, 61.7 percent of voters rejected Prop 10, while 38.3 percent voted to approve the measure. “The stunning margin of victory shows California voters clearly understood the negative impacts Prop 10 would have on the availability of affordable and middle-class housing in our state,” said Tom Bannon, chief executive officer… Read More

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In a poll released this week, a statewide ballot measure that would repeal the Costa-Hawkins Rental Housing Act continued to trail by a wide margin. The final pre-election Berkeley Institute of Governmental Studies Poll, published Wednesday, indicated that 60 percent of likely voters oppose Proposition 10, while 35 percent support the measure, and 5 percent are undecided. “This poll mirrors public and private polling that shows voters clearly understand that Prop 10 is a flawed measure that would worsen California’s affordable housing crisis, reducing property values and freezing the construction of housing for low- and middle-income families that we desperately… Read More

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Proposition 10, the statewide ballot measure that would repeal the Costa-Hawkins Rental Housing Act, was trailing by a growing margin in a poll released this week by the Public Policy Institute of California. The PPIC poll shows that 60 percent of likely voters would vote no on Prop 10, while 25 percent would vote yes, and 15 percent are undecided. If Costa-Hawkins is overturned in the November election, California cities and counties will once again gain the authority to adopt extreme forms of rent control, including the imposition of rent caps on new apartments and single-family homes. Such moves would… Read More

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A newly released paper by a UC Berkeley economist explores how repealing the Costa-Hawkins Rental Housing Act could drive down property values and erode tax money for school districts and local communities. The paper, “The Case for Preserving Costa-Hawkins: How Rent Control Reduces Property Values, Hurts Small Businesses and Limits State and Local Tax Revenue,” was authored by Kenneth T. Rosen, chairman of UC Berkeley’s Fisher Center and chairman and founder of Rosen Consulting Group. If California voters approve Proposition 10 and overturn Costa-Hawkins in the Nov. 6 election, cities and counties will once again be authorized to adopt extreme… Read More

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The number of newspapers urging readers to reject Proposition 10 and preserve the Costa-Hawkins Rental Housing Act continues to grow. In recent days, more than 15 newspapers took stances against Prop 10, which would bring extreme forms of rent control back to California. These newspapers include the Fresno Bee, Modesto Bee, Bakersfield Californian, San Francisco Business Times, Santa Rosa Press-Democrat, Palo Alto Daily Post, and La Opinión, the nation’s largest Spanish-language newspaper. Also joining the chorus against Prop 10 is the 11-newspaper Southern California Newspaper Group, which includes the Los Angeles Daily News, Orange County Register and the Riverside Press-Enterprise.… Read More

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A UC Berkeley economist Tuesday released his third in a series of papers on why California should keep the Costa-Hawkins Rental Housing Act. The new paper, “The Case for Preserving Costa-Hawkins: The Potential Impacts of Rent Control on Single Family Homes,” was authored by Kenneth T. Rosen, chairman of UC Berkeley’s Fisher Center and chairman and founder of Rosen Consulting Group. If California voters approve Proposition 10 and overturn Costa-Hawkins in the Nov. 6 election, cities and counties will be authorized to impose rent control on single-family homes. According to Rosen’s latest paper, single-family rent control would decrease property values… Read More

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