We laughed at this particular special interest that sprang up in New York a few years ago. It was the Rent Is Too Damn High Party, and even SNL didn't shy away from mocking this offshoot from the Democrat party.
Whether Californians know it or not, the party apparently had an impact there. See this from OCregister.com: Rent-control initiative could obliterate state housing markets.
A 1995 California law prevents cities from making regulations that would establish rent control on single family dwellings and condominiums, and new apartment units. The law also prevents property owners from raising the rent once the current renter vacates the premises or gets evicted for cause. Source.
That law protecting property owners is on the ropes. The November ballot will contain a measure that will end those restrictions. It's hard to imagine Californians voting to keep in place anything that helps a landlord.
Landlords must really be sweating.
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2:32 PM 5/10/2018
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