Posted on 03/02/2019 7:20:49 PM PST by Extremely Extreme Extremist
Indeed. People will seek out to max out occupency instead. Welcome to Japanese coffin rooms
Yep, many of those those apartments and rental houses will not be available for renting in a few short years.
That got me to wondering. Is it possible that there might be a glut of small rental houses for sale shortly at fire sale prices?
Maybe an enterprising investor could snap them up and make a profit at the current rental rates.
What does liberal Airbnb saying of this? Or did they get again a loophole?
“Maybe the state will start suing the cities to build more low income housing”
Newsom has sued 57 California cities so far. Some of the cities are so small that the cost of producing the state required reports and documents that prove they are meeting their “fair share” of low income housing will consume the entire city budget!
I made my last trip to Seattle in late October 2018. When I say last, I mean I will not go again. Besides being a place that you don’t need to see more than once, if at all, I was verbally attacked by the wife of an old (former) friend who was so nasty in her words and tone that it took all of my gentlemanly senses to not walk out of the building. He wasn’t happy about her behavior but did nothing to end the tirade. She couldn’t stand any conservative or Republican in her midst. So long Barbara, so long Seattle.
Gee, maybe it was my telling a “dumb flight attendant joke?”
Hey, Katie - you ever heard of the Principle of Unintended Consequences? Thought so. But that is what you and the other mentally-ill Liberals, Democrats, Socialists, and Communists do not seem to recognize. All of your “great” ideas are destroying America and Americans.
Fixed it for her.
The fact you cannot build anywhere in the city has nothing to do with this.
Rent control. What could go wrong?
Housing is a Constitutional right. Freedom of private contract is an expression. Of free speech. It also runs afoul of the takings clause. Also, the Constitution is one of enumerated rights and states what powers the federal government has with all other power and rights remaining eight the people of states. States must also live within the US Constitution. I do not see rent control of private property as a permitted constitutional activity.
Does anyone on the left even know how to define “rent gouging”.
I think they are trying to prevent the operation of the free market in the area of rental housing.
Just as a matter of interest: Kate Brown was born in SPAIN, she spent her childhood in MINNESOTA, she got her Bachelors degree at the UNIVERSITY of COLORADO, she moved to OREGON to get her Law degree at NORTHWESTERN SCHOOL of LAW at LEWIS and CLARK COLLEGE.
Then she practiced Juvenile Law in PORTLAND while teaching at (wait for it) PORTLAND STATE UNIVERSITY!!!!!!!!!!!!!!!!!!
Sounds to me like you have a HOME GROWN PROBLEM THERE!
So don’t call her a “CALIFORNIAN”, hell I don’t think she has ever even been in my state.
I use to cycle through Las Colinas in Irving, TX and was floored by the detention-facility aesthetic some of the (very expensive) apartment buildings had. Now that look is fairly common in Dallas.
Welcome, citizen, to your new government provided home! It was built to exacting standards that profiteer builders refused to meet! Thanks to these units and many more we will soon be building, the housing crisis will soon be a thing of that past. Yet another sterling example of your state government in action for you!
I see you haven’t been through the PERMITTING PROCESS here in California, it’s as bad, if not worse than trying to do construction MEHIKO.
Just don’t bring those OREGON voting habits with you.
I bet that there are properties that just took a valuation hit of 20% or more.
Why isn’t this classified as a government theft?
I am about to flee; if I can sell my house...16 year olds voting, rent control, cap and trade.....what is next?
We live near Seattle and my wife is active at Seattle based museums and historical groups. We have been attacked by self-righteous liberals at completely unexpected inappropriate nonpolitical occasions and completely unprovoked. And we too have been shocked that people we thought were our friends stood by and said and did nothing. It reminds me of the following graphic when someone you don't even know realizes that you are not a full on leftist retard and goes off.
As a small-time landlord in rural Oregon, that would represent a buying opportunity.
This law is actually not that bad, the real danger is that it will have the opposite of the desired effect -- units will become scarce and more expensive. And then, then the legislature will decide that the cause of failure is that the law did not go far enough so they will make it much more onerous.
Surprisingly, even though our little town has less than 1% vacancy rate, we have 25-40% voluntary turnover every year. When a unit voluntarily becomes vacant, it can be re-rented at any level. There is no vacancy control in this law.
I suspect the law will provide an annual increase of 7% plus CPI, about 10%, which is a lot better than we have been able to get in the past. It will become the "standard" rent increase.
To me, the real problem is that it does not allow for no-cause terminations. As a landlord, I can tell you that no landlord wants to terminate a good tenant. A turnover always costs money. The truth of the situation is that a no-cause termination always has a cause behind it: drug use, low-level drug dealing, alcoholism, criminal activity, low-level prostitution, etc. I may not want to go to the trouble of proving these problems, so I used to be able to do no-cause terminations. Now I am going to have to document and lay these issues out -- I will still get rid of undesirable tenants, but they will now be in a worse position, and will have a harder time finding a new place.
Too bad, so sad.
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