Under a bill passed yesterday by the state Legislature, most of California’s 6 million rental units would become rent-controlled. The bill prohibits rent increases above 5%, plus the cost of inflation. Lawmakers describe the measure as a way to address the state’s housing affordability crisis, helping renters stay in their homes and avoid being priced out by rising housing costs. Oregon and New York have passed their own rent-control measures this year. But rent control is a controversial policy among housing economists, one that many think can raise prices.
Click the audio player above to hear the full story.
News and information you need, from a source you trust.
In a world where it’s easier to find disinformation than real information, trustworthy journalism is critical to our democracy and our everyday lives. And you rely on Marketplace to be that objective, credible source, each and every day.
This vital work isn’t possible without you. Marketplace is sustained by our community of Investors—listeners, readers, and donors like you who believe that a free press is essential – and worth supporting.