Monday, September 24, 2018

CA Proposition 10


CA Prop 10 (2018) Repeals the Costa-Hawkins Rental Housing Act (Costa-Hawkins), thus allowing local governments to adopt rent control ordinances—regulations that govern how much landlords can charge tenants for renting apartments and houses. Proposition 10 would also state that a local government's rent control ordinance shall not abridge a fair rate of return for landlords. Costa-Hawkins enumerates the statewide limits of local rent control ordinances. The consequence of passing Prop 10 is that many localities will move to implement new more aggressive rent controls. Here is the official ballot statement in favor. It's all you need to understand that this is a bad idea:
The rent is too damn high! Voting YES on Proposition 10 will free our local communities to decide what rent control protections are needed, if any, to tackle the housing crisis. Prop. TEN protects TENants. Too many families spend over half their income on housing. That’s simply unacceptable. Living paycheck to paycheck means it’s difficult for these families to make ends meet, much less save for an emergency. Seniors on fixed-incomes have less to spend on food and medicine. Many of the people who should be the foundation of our local communities—the teachers, nurses and firefighters— are forced to move far away from the communities they serve because corporate landlords are doubling or even tripling the rent. With so many families struggling, many are driven to move away from California altogether, leaving jobs, relatives and schools behind. Even worse, many are forced into homelessness and living on the streets. With every 5% rent increase, 2,000 more people are forced out of their homes—a devastating blow to them and an even worse homeless problem for California to cope with. Voting YES on Prop. 10 will allow cities that need it to pass laws limiting rent increases. Prop. 10 does NOT mandate rent control. It does NOT force any community to adopt any rent control measures that would not be a good fit for their own housing situation. It does NOT force any one-size-fits-all solutions on any city. Instead, Prop. 10 simply allows communities that are struggling with skyrocketing housing costs to put an annual limit on how much rents can be raised. Communities are free to bring more fairness to housing, ensuring that tenants have protections against huge rent increases, while ensuring that landlords receive a fair rate of return with reasonable yearly increases. Voters have heard a lot of confusing arguments about Proposition 10. Don’t believe the attacks. Wall Street corporations like the Donald Trump-linked Blackstone have spent millions of dollars to fight this measure because they are terrified this will cut into the huge profits they make from the thousands of foreclosed homes they buy. They don’t care that California families are being crushed by high rent. It’s time to take a stand FOR affordable housing and against greedy Wall Street billionaires and corporate landlords by voting YES on Prop. 10. Prop. 10 is a limited measure that answers one question: who decides housing policy—local communities or Sacramento special interests and powerful real estate investors? It doesn’t establish new housing policies, it just lets local communities—which are closer to the people—decide what works best for them. It’s time we had the power to tackle the problems of homelessness and skyrocketing rent within our own communities. California nurses, teachers, seniors, organized labor, including SEIU State Council, housing advocates, civil rights groups, clergy and faith-based groups and other organizations you trust all urge YES on Proposition 10. Remember, Prop. TEN protects TENants.

And meet the minivan that replaced the Expedition:

29 comments:

Unknown said...

I can't see the logic behind rent controls. I don't think it fixes the problems it's aimed at and it creates a whole host of other issues.

LBD said...

Good Morning!

The insurance is to dam high! The property taxes are to dam high! The renter quality is do dam low! The repairs are to dam high! The cost of properties is to dam high! Rent controls are insane with out controlling the real problems. Hey the Socialist have a different way to steal from others. Kali, a great place to be from!

Unknown said...

I don't know how an insurance company can stay in business in CA. Fires, mudslides, earthquakes, so many total losses. I guess the same can be said of the gulf coast and the hurricanes. If you are replacing significant portions of the insurance base every year then you have to charge high premiums.

Lawyerliz said...

Nimbies do'nt want the density which

Lawyerliz said...

Solve the problem. That's not the govt, that's the people.

Rob Dawg said...

> I don't know how an insurance company can stay in business in CA. Fires, mudslides, earthquakes, so many total losses.

I had to go with a last resort insurer for a mountain property only two blocks from the county fire station. It ain't about real risk anymore. They don't charge the real risk on exposed properties and make it up with overcharging lesser risk structures. They don't charge the outliers because they would get the contract. They can overcharge the bagholders because of collusion.

Lawyerliz said...

They've hated Florida since 1992. At least they paid policy limits.

LBD said...

Drive up phones values doesn’t help. If you have a volunteer fire department then they will consider your property as a total loss. Then there is the roofing racket where they pay like a slot machine year after year and those of us with a steel roof will never have a claim get peanuts of a discount. Games, games and profits.

LBD said...

Phony! Spell check failure!

Rob Dawg said...

Best DYAC of the day!

Thanks all for sticking with me through a dry spell of posting. And welcome back the Dean Emeritus of the Misean Institute, Counterpointer.

I don't know how much longer I can hold my breath waiting for LLiz to call me rich because I own a Mercedes Benz minivan. $6k and 127k miles. Sits in the driveway except for needing the extra seats or road trip vacations. Actual reason? Having it there is cheaper than three cars and four drivers on the policy.

Unknown said...

Sigh, good intentions.
Rent control simply dos not do what it is allegedly supposed to, like our drug laws it's about virtue signalling.

TJandTheBear said...

I've often read how you can pick up fairly low-mileage AMGs for a fraction of their original sales price, so doesn't surprise me at all.

Thomas nailed it on Rent Control.

p.s.: Go Tiger! He may yet catch Palmer, certainly Snead.

Anonymous said...

Rent control is a classic pro-cyclical regulatory mistake, as it raises prices by reducing supply. Not to mention that it's a taking of private property, so it's immoral as well as being bad policy.

Rob Dawg said...

A liter of 91-octane gasoline currently costs 1 bolivar. By contrast, a single egg in Venezuela's hyperinflation-ravaged economy costs 200,000 bolivars.

Guess which one is price controlled.

Lawyerliz said...

I'd steal a hen

Lawyerliz said...

They don't pay like a slot machine here!
We checked out steel roofs. Not a good idea here.

Lawyerliz said...

Yeah Tom.

Lawyerliz said...

I think I did that already. You can breathe now.

Lawyerliz said...

The talking heads, of all stripes are all saying recession. I think that means we aren't gonna have one for a while. For all not on for a while I have a grandson who is totally gorgeous.

LBD said...

Good Morning!

Talking heads are selling fear or pie in the sky. Stagnant anything has no gambling ability. I think there is more room to grow as they pile more tariffs on China. Prices will eventually rise and slow things down. As long as people have credit and can make the payments the party continues. IMO.

LBD said...

Taco tuesday it is!

Lawyerliz said...

So, tomorrow is go to doctors day. And work on this school project day. The wet people in the Carolinas are starting to call their plight the result of global warming.

Lawyerliz said...

If you Kali persons can't afford it there, why not leave?. If hospitals can't afford nurses, why not build housing? Likewise clergy and others who say they wish to help the poor, can't they build small places? Churches are empty most of the time.. it maybe that most can't afford to live there, considering all the earthquakes, fires, landslides and other disasters.

LBD said...

Import more poverty! That will fix it. ��

LBD said...

Dawg, does the manufacture plate say something like made under license from Daimler Chrysler? I think they where made in Alabama along with the Pacifica.

Lawyerliz said...

Why it's cheap?

Lawyerliz said...

Increase the minimum wage.

LBD said...

Good Morning!

Wages will go up with a labor shortage. That is why importing more poverty does not work. IMO.

Another day at the beach! Water has to be mid 80’s at least. ��

Encinitas Undercover said...

Kinda sharky down here.