Home price will fall due to the coming statewide rent control. Voters have overwhelmingly rejected Prop 10 last year, but some lawmakers want to override voter’s opinion.
“A group of Democratic legislators introduced bills to cap annual rent increases statewide, prevent evictions without just cause and return to cities the authority to adopt rent control ordinances for newer homes and apartments.”
I don’t get all the talk of preventing evictions without just cause. There aren’t that many evictions a year. The top 2 reasons are breaching the lease or the owner moving into the home. Maybe some of the nuisance evictions are BS, but the number of them is tiny. There aren’t enough evictions for it to be a major issue. Eliminating eviction is more about transferring property rights from owners to renters than anything else.
“Over the 11-month period landlords tried to oust 1,881 renters citywide, according to the board’s accounting. The most commonly cited reasons were as follows:
- 442 for lease breaches.
- 397 owner move-ins.
- 371 for nuisance violations.
- 232 for non-payment or “habitual late payment” on rent.
- 127 Ellis Act removals.”
Rent control will push house prices higher. Of all the CA cities that have rent control, which one’s house price is lower because of rent control?
??? … ???
Did you read? They want rent control on all housing, not only multi unit.
Read it, think for 5 minutes
Which CA city has lower multi-fam price because of rent control?
Every rent controlled city. Without rent control, SF multi family buildings can double the price overnight
SF and SV have the lowest cap rate in CA, that means their MFH are the most expensive in the state.
I said your daughter will grow by 3 inches in 1 years. You replied that wqj is taller than your daughter. I don’t know how to comment
I have data, you have theory.
You started using your political discussion tricks on housing price trend discussions. I give up on you
Now that you bring politics in, let me remind you that you are arguing government knows what they are doing, and their policies will have the intended consequences they want. Not the usual arguments you like to make.
Yeah, housing shortage is their intention.
Only when there’s a housing shortage can these 3 fringe politicians have any power. They have to rely on these extreme and fringe policies to defy the majority of the population’s choice to defeat Prop 10 last year
So you are saying rent control leads to housing shortage and therefore house price will fall?
Yeah. London Housing is more expensive but Paris has a worse housing shortage
So lower supplies of housing and price will fall? Why?
Housing shortage is from less construction and more end of life. Price of existing homes will fall since investors will stop buying.
Berkeley has lower prices.
Lower than where? It’s more expensive than neighboring towns.
When we discuss your daughter’s height trend in the future, you can stop your fascination with today’s comparison with the neighbors
This is the 2nd time I tell you this