Costa-Hawkins Rental Housing Act reform: Difference between revisions

 

=== California Association of Realtors ===

 

== Costa Hawkins Act terms ==

YIMBYwiki @YIMBYwiki&nbsp;[https://twitter.com/YIMBYwiki/status/951262198084464640 5:19 PM - 10 Jan 2018]<br/> Replying to @ebarcuzzi @MattRegan10 and 2 others<br/> "@TommSciortino another possible angle is to bundle/trade &nbsp;#CostaHawkins reform with major housing-creation support like #SB827"<br/> &nbsp;

 

 

 

Paavo Monkkonen @elpaavo<br/> I meant upzoning + rent control, both would be free! and one would even generate $$$

 

 

 

 

 

 

 

 

== References ==

*Initiative on Global Markets (at University of Chicago Booth School) [IGM 2012]. “[http://www.igmchicago.org/surveys/rent-control Rent Control]” [poll of economic experts].&nbsp;<br/> February 7th, 2012. [http://www.igmchicago.org/surveys/rent-control. http://www.igmchicago.org/surveys/rent-control.&nbsp;]<br/> ''Poll statement:&nbsp; “Local ordinances that limit rent increases for some rental housing units, such as in New York and San Francisco, have had a positive impact over the past three decades on the amount and quality of broadly affordable rental housing in cities that have used them.”&nbsp;<br/> 40 respondents.&nbsp;<br/> 0 Strongly Agree<br/> 2% Agree<br/> 7% Uncertain<br/> 49% Disagree<br/> 32% Strongly Disagree<br/> 2% No Opinion''<br/> &nbsp;

*Legislative Analysts Office (California).&nbsp;[http://www.lao.ca.gov/ballot/2017/170629.pdf Review of proposed statutory initiative pertaining to rent control (A.G. File No. 17-0041)].&nbsp;12 Dec 2017.&nbsp;[http://www.lao.ca.gov/ballot/2017/170629.pdf http://www.lao.ca.gov/ballot/2017/170629.pdf].<br/> &nbsp;

*McFarlane, Alastair. “Rent stabilization and the long-run supply of housing.” Regional Science and Urban Economics, Volume 33, Issue 3, May 2003, Pages 305-333.&nbsp;DOI: 10.1016/S0166-0462(02)00031-5<br/> [https://doi.org/10.1016/S0166-0462(02)00031-5 https://doi.org/10.1016/S0166-0462(02)00031-5].<br/> ''"Abstract:&nbsp;<br/> This paper examines the impact of moderate rent controls on the construction and replacement of urban housing. It studies a common form of rent regulation that limits rent growth to below-market increases but permits landlords to set the base rent at free market levels and allows them to re-set rents when the incumbent tenant vacates, after which rents are re-controlled (‘vacancy decontrol–recontrol’). '''One of the primary insights is that neither the timing nor the density of construction is affected by rent stabilization when base rents are perfectly flexible. Allowing landlords to set the initial contract rent lets them capture the benefits to the renter of rent stabilization. Perfect capitalization of rent stabilization into a higher base rent provides the landlord with a free market rate of return and thus does not distort development activity.''' However, redevelopment of land will be hastened because rent stabilization complemented by vacancy decontrol–recontrol increases the difference between rents before and after redevelopment, increasing the opportunity costs of postponing redevelopment. Extensions include an analysis of other common rent regulations and the impact of rent stabilization on the urban rent gradient."''<br/> &nbsp;

*Murphy, Katy. “[https://www.mercurynews.com/2018/01/11/california-considers-repealing-rent-control-restrictions/ California considers repealing rent control restrictions.]” Mercury News. 11 January 2018. [https://www.mercurynews.com/2018/01/11/california-considers-repealing-rent-control-restrictions/. https://www.mercurynews.com/2018/01/11/california-considers-repealing-rent-control-restrictions/.&nbsp;]<br/> &nbsp;