LA has had rent control for decades. Still, most of the city’s renters pay more than what the federal government considers affordable.
The main reason rents are steady or even declining slightly? Construction of new apartments is near a 50-year high.
Rents have been rising fast along with the price of homes, prompting discussion of rent control or stabilization.
If enacted, the proposal would be one of the most aggressive rent control policies in the country, applying to new construction.
California lawmakers on Wednesday passed the statewide rent control measure.
More than half of renters around the country pay more for housing than what’s considered affordable.
In cities where a housing shortage is driving up rents, some residents are withholding theirs to protest poor conditions.
According to a poll, 60 percent of California voters favor limits on how much landlords can charge.
