California Assembly passes rent-cap bill

[PBC_Democrat]

1. I find it insane that anyone thinks this is a good idea ...

Last edited Thu May 30, 2019, 11:16 PM - Edit history (1)

Please read, or at least scan, the the report at this link.
https://www.nmhc.org/news/articles/the-high-cost-of-rent-control/

"In a final appeal to his colleagues, the bill’s author, Assemblyman David Chiu,
said the bill would protect the most vulnerable residents"

It will accomplish exactly the opposite - it may a small bit in the short run but has terrible long-term consequences.
In addition to reducing the supply of rental properties, it reduces the mobility of renters.

Anything that 93% of economists agree on really should be taken seriously.