Costa-Hawkins Rental Housing Act reform: Difference between revisions

 

 

A similar measure was proposed as legislative bill [[AB1506|AB 1506]], filed in 2017, but this failed to pass out of the housing committee in a vote on 11 January 2018.&nbsp;<br/> <br/> The [https://oag.ca.gov/system/files/initiatives/pdfs/17-0041%20(Affordable%20Housing)_0.pdf filing letter] contains text of proposed Act.&nbsp;<br/> &nbsp;

Matt Levin @mlevinreports&nbsp;12:53 PM - 11 Jan 2018<br/> "Bloom making point that after committee vote you can still change bill in debate. CAA says it may be open to negotiating on 1995 provision."<br/> &nbsp;

 

 

== References ==

*Chandler, Jenna. “[https://la.curbed.com/2017/10/23/16526384/costa-hawkins-rent-control-ballot-measure-initiative Tenant groups, AIDS Healthcare Foundation introduce initiative to repeal Costa Hawkins].”<br/> ''Curbed Los Angeles'', Oct 23, 2017. [https://la.curbed.com/2017/10/23/16526384/costa-hawkins-rent-control-ballot-measure-initiative https://la.curbed.com/2017/10/23/16526384/costa-hawkins-rent-control-ballot-measure-initiative].<br/> &nbsp;

*Diamond, Rebecca, Tim McQuade, & Franklin Qian (2017). “[http://conference.nber.org/confer//2017/PEf17/Diamond_McQuade_Qian.pdf The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco].” NBER working paper, October 11, 2017.&nbsp;[http://conference.nber.org/confer//2017/PEf17/Diamond_McQuade_Qian.pdf http://conference.nber.org/confer//2017/PEf17/Diamond_McQuade_Qian.pdf].<br/> ''"Abstract:&nbsp;<br/> In this paper, we exploit quasi-experimental variation in the assignment of rent control in San Francisco to study its impacts on tenants, landlords, and the rental market as a whole. Leveraging new micro data which tracks an individual’s migration over time, '''we find that rent control increased the probability a renter stayed at their address by close to 20 percent. At the same time, we find that landlords whose properties were exogenously covered by rent control reduced their supply of available rental housing by 15%, by either converting to condos/TICs, selling to owner occupied, or redeveloping buildings. This led to a city-wide rent increase of 7% '''and caused $5 billion of welfare losses to all renters. We develop a dynamic, structural model of neighborhood choice to evaluate the welfare impacts of our reduced form effects. We find that '''rent control offered large benefits to impacted tenants during the 1995-2012 period, averaging between $2300 and $6600 per person each year, with aggregate benefits totaling over $390 million annually.''' The substantial welfare losses due to decreased housing supply could be mitigated if insurance against large rent increases was provided as a form of government social insurance, instead of a regulated mandate on landlords."''<br/> &nbsp;

*Dillon, Liam. “[http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-rent-control-in-california-could-expand-1508785237-htmlstory.html Rent control in California could expand dramatically under a possible 2018 initiative.]” LA Times, 23 Oct 2017. [http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-rent-control-in-california-could-expand-1508785237-htmlstory.html http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-rent-control-in-california-could-expand-1508785237-htmlstory.html].<br/> &nbsp;

*East Bay For Everyone. "[https://www.scribd.com/document/350029454/Ab-1506-Support#from_embed RE: AB 1506 - Residential Rent Control: Costa-Hawkins Rental Housing Act.]" (letter). 2017.&nbsp;[https://www.scribd.com/document/350029454/Ab-1506-Support#from_embed https://www.scribd.com/document/350029454/Ab-1506-Support#from_embed].<br/> &nbsp;