It’s never been more important for members of the multifamily industry to keep a close eye on the rent control policy debate playing out in California. A rapidly approaching November ballot initiative, known as the “Affordable Housing Act,” would completely repeal the Costa-Hawkins Act. This comprehensive shift in policy would revoke rent control restrictions that have been in place since 1995.
This report provides an overview of the upcoming legislative battle and the history of the Costa-Hawkins Act, as well as analysis of how the controversial ballot initiative will impact the industry if it ultimately is voted into law.
Highlights from the report include:
• Summary of Costa-Hawkins Act policies affected by the Affordable Housing Act
• Examination of short- and long-term impacts of Affordable Housing Act
• Review of the latest academic insights regarding the potential repeal of Costa-Hawkins
• Talking points for CRE professionals lending their voice to the rent control debate
Considering the potential impact of new rent controls on the significant volume of single-family homes, condominiums, and multifamily units built after 1995, investors and developers can benefit from understanding how these changes will affect the nation’s largest state economy.
California’s commercial real estate market could be headed for unprecedented territory. This report is an ideal resource for those preparing themselves for a potential outcome in November that would send major ripples throughout the entire commercial real estate industry.