Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.
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.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.