The California Housing Affordability Crisis is skyrocketing to new heights, however the question on everyone’s minds is; how do we solve this problem?
California will be holding their general elections next month, November 6th, and the hot topic on the ballot is Proposition 10. Proposition 10 expands local government’s authority to enact rent control on residential property. A basic summary on the prop “repeals state law that currently restricts the scope of rent control policies that cities and other local jurisdictions may impose on residential property.” California’s power players agree that the state’s increasingly expensive housing market is a severe economic issue in areas such as Ventura County, LA County, and San Francisco
A Vote YES On Prop 10 Means
A YES vote on this measure means: State law would not limit the kinds of rent control laws cities and counties could have. Rent control determines how much a property owner can charge tenants. It also dictates when, if and how a property owner can increase a tenant’s rent.
Supporters of Prop 10 see the ordinance as a way to put the brakes on skyrocketing rents and a way to provide a sense of stability for renters. Rent control in cities within California effect the financial security that is beneficial for the working classes due to the fact that landlords cannot unexpectedly increase rent. The rent control promotes the diversity, stability, and engagement for it’s community. Supporters of Prop 10 see the benefits that allow communities to create their own policies.
Proposition 10, as stated from it’s website, breaks down the 20 year old Costa-Hawkins Rental Housing Act. This act gives permission to landlords of residential apartments and houses to raise rents as much as they want in buildings built after 1995; despite LA local laws that would otherwise prohibit such increases. The Costa-Hawkins act also allows a landlord to raise the rent in any building built before 1995 to the market value when it becomes vacant, and lets the landlord decide what the market value is.
A vote YES on Prop 10 will repeal the outdated Costa-Hawkins law and remove the constraints that the law imposed on local governments to limit obscene rent prices. Supporters of prop 10 believe they will be empowered to take urgent action to address the housing crisis on their own terms.
Prop 10 Biggest Supporters:
City of Berkeley
City of Beverly Hills
City of Oakland
City of San Francisco
City of Santa Monica
City of West Hollywood
East LA Community Corporation
Affordable Housing Alliance
Affordable Homeless Housing Alternatives
Beverly Hills Renters Alliance
California Labor Federation
California Nurses Association
California Teachers Association
For a full list of supporters, click here.
A Vote NO on Prop 10 Means
A NO vote on this measure means the discouragement of new construction and even less availability of affordable and middle-class housing. Opposers of prop 10 believe that it will leave taxpayers with legal bills due to the ‘hidden loophole’ that requires taxpayers to pay the initiative supporters’ legal bills for practicing in certain lawsuits, even if they lose and their position is frivolous.
As stated from the No on Prop 10 website policies authorized by this initiative have shown to have a negative effect on property values by more than 10% according to MIT researchers, and will significantly restrict what single-family homeowners can do with their homes. The average California single-family homeowner could lose $60,000 in their home value if prop 10 passes.
Prop 10 opposers are also afraid of the affordable housing construction rates and their decline since there will be no profit, initiative or funds to allocate. The biggest concern is the repeal of a housing law with no solution.
Prop 10 Biggest Opposers:
California Council for Affordable Housing
Community Revitalization and Development Corporation
California Senior Advocates League
Los Angeles/Orange Counties Building & Construction Trades Council
Veterans of Foreign Wars, Department of California
National Veterans Foundation
Marine Corps Veterans Association
Women Veterans Alliance
National Association of Home Builders
California Chamber of Commerce
For a full list, click here.
Confused? Yeah, so were we at first! Here’s a 1 minute video explaining the very very basics of Prop 10. We encourage you to do you research before coming to a decision and to get out there and vote!