ACTION Apartment Association - The Case for Preserving Costa-Hawkins: Three Ways Rent Control Reduces the Supply of Rental Housing

Home
The Case for Preserving Costa-Hawkins: Three Ways Rent Control Reduces the Supply of Rental Housing

The Case for Preserving Costa-Hawkins: Three Ways Rent Control Reduces the Supply of Rental Housing

09/07/2018 9:18 AM | Margaret Fulton (Administrator)

  Proposition 10, a statewide ballot initiative in the upcoming November 2018 elec

-

  tion aims to repeal the 1995 law. If Costa-Hawkins is repealed, the rules that provided assurances for existing property

  owners and enabled increased levels of new construction activity will be abolished, and local jurisdictions will be free

  to enact more restrictive forms of rent control. A return to more rigid rent control laws could severely reduce new con

-

  struction activity, lead to greater housing scarcity and further increase rents for many households in the coming years.

  Proposition 10, a statewide ballot initiative in the upcoming November 2018 elec

-

  tion aims to repeal the 1995 law. If Costa-Hawkins is repealed, the rules that provided assurances for existing property

  owners and enabled increased levels of new construction activity will be abolished, and local jurisdictions will be free

  to enact more restrictive forms of rent control. A return to more rigid rent control laws could severely reduce new con

-

  struction activity, lead to greater housing scarcity and further increase rents for many households in the coming years.

  Proposition 10, a statewide ballot initiative in the upcoming November 2018 elec

-

  tion aims to repeal the 1995 law. If Costa-Hawkins is repealed, the rules that provided assurances for existing property

  owners and enabled increased levels of new construction activity will be abolished, and local jurisdictions will be free

  to enact more restrictive forms of rent control. A return to more rigid rent control laws could severely reduce new con

-

  struction activity, lead to greater housing scarcity and further increase rents for many households in the coming years.

Proposition 10, a statewide ballot initiative in the upcoming November 2018 election aims to repeal the 1995 law. If Costa-Hawkins is repealed, the rules that provided assurances for existing property owners and enabled increased levels of new construction activity will be abolished, and local jurisdictions will be free to enact more restrictive forms of rent control. A return to more rigid rent control laws could severely reduce new construction activity, lead to greater housing scarcity and further increase rents for many households in the coming years.