California Approves Statewide Rent Control to Ease Housing Crisis

By New York Times California lawmakers approved a statewide rent cap on Wednesday covering millions of tenants, the biggest step yet in a surge of initiatives to address an affordable-housing crunch nationwide. The bill limits annual rent increases to 5 percent after inflation and offers new barriers to eviction, providing a bit of housing security in a state with the nation’s highest housing prices and a swelling homeless population. Gov. Gavin Newsom, a Democrat who has made tenant protection a priority in his first year in office, led negotiations to strengthen the legislation. He has said he would sign the bill, approved as part… …read more

Source:: FreeRepublic.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.