Opinion: Rent control is better than nothing, but it can't fix California's housing crisis (via latimesopinion)
With many cities in the grip of an affordable housing crisis, it’s not surprising that states and local governments are desperate for answers — and some have turned to rent control., a statewide rent control bill that will cap rent increases to about 7% a year for all buildings more than 15 years old. New York and Oregon have approved their own rent control laws recently.
One significant problem with many rent control policies is that they are not targeted enough toward the needy. For example, New York’s new rent control law would allow New York City apartments with rents exceeding $2,700 a month and occupied by people earning more than $200,000 a year to remain rent-controlled. This change may well be the byproduct of the New York state Legislature’s desire to stop the loss of affordable housing units.
The law is unlikely to affect most renters. It might help prevent long-term residents from being quickly forced out of a booming neighborhood. But it won’t help lower-income renters who are struggling to find an affordable housing unit within reasonable commuting distance from work.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Best Luxury Fashion Items You Can RentRock high-end designer pieces without committing to the hefty price tag (or owning it forever).
Read more »
Rent the Runway says it won't accept new members as it fixes a supply chain crisis that has spurred customer backlash onlineRent the Runway is not accepting new members for the next two weeks as it deals with supply chain issues.
Read more »
Girl shot inside home dies on her 12th birthday: Officials“It's a shame that we're sitting here in the house and we can't even sit in the house. A child cannot play.'
Read more »
Who wants to leave California? Young voters can't afford housing, and conservatives feel alienatedMany conservatives feel marginalized and want to leave California, and young people are stressed by housing costs, a Berkeley IGS poll for The Times shows.
Read more »