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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Monday, September 16, 2019

Leftists ignore California voters, imposes rent control





(True Pundit)  -  As expected, California Gov. Gavin Newsom (D) has signed legislation passed by the state legislature last week that imposes statewide rent control on landlords in the state.
The measure passed the state legislature last week by a large 48-26 margin. Interestingly, the legislature was apparently unmoved by the fact that California voters handily defeated — by an overwhelming margin — a rent control measure in November 2018.
The new law passed by the legislature puts a cap on the amount of rent increases that a landlord can impose at 10 percent or 5 percent plus the annual cost of inflation, whichever is lower.
California has been facing an increasing poverty and housing crisis — housing in California is, quite simply, too expensive for its residents and too scarce even for those who can afford it. The combined effects of these crises have created a homelessness crisis in California that is one of the worst in the country’s post-depression history. 
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1 comment:

Anonymous said...

Problem is.. TAXES (including: "fees" permits" licenses" etc), rise a LOT faster than the inflation rate...
Sadly.. its going to hurt some folks (IF you CAN raise rent every year... I'm pretty sure landlords will be doing it)..... AND, if one cant make enough profit on the endeavor..... the place is going to be "maintenance free" until it falls down (and then written off as a loss.....