Post by High Priestess on Mar 1, 2019 15:51:39 GMT
Responding to pressures from renters, Oregon became the first state in the US to pass statewide rent control and eviction controls, a situation that is sure to infuriate many small property owners. Also...can anyone learn from history? Rent control does not make more affordable housing available. It causes the available supply of lower cost housing to be reduced.
www.nytimes.com/2019/02/26/us/oregon-rent-control.html
www.ktvz.com/news/oregon-house-passes-rent-control-bill-sends-to-governor/1041679434
www.npr.org/2019/02/27/698509957/oregon-set-to-pass-the-first-statewide-rent-control-bill
At least the law exempts buildings with less than 5 units, so very small buildings with owner-occupants would be spared.
Apartment buildings with fewer than five units are exempt from the bill. So are housing complexes that are less than 15 years old.
www.nytimes.com/2019/02/26/us/oregon-rent-control.html
www.ktvz.com/news/oregon-house-passes-rent-control-bill-sends-to-governor/1041679434
www.npr.org/2019/02/27/698509957/oregon-set-to-pass-the-first-statewide-rent-control-bill
...economists tend to agree that rent control makes housing problems worse in the long run.
Some say that by limiting the amount of rent landlords can collect, they will take the properties off the market, limiting the housing supply at a time when there already is a crunch. [And you can surely expect more owners to switch to short term or vacation rentals whenever possible!!]
“While the intent of rent control laws is to assist lower-income populations, history has shown that rent control exacerbates shortages, makes it harder for apartment owners to make upgrades and disproportionally benefits higher-income households,” Doug Bibby, president of the National Multifamily Housing Council, which represents the apartment industry, said in a statement Tuesday about the Oregon bill.....The bill also sharply reduces the circumstances in which tenants can be evicted.
Some say that by limiting the amount of rent landlords can collect, they will take the properties off the market, limiting the housing supply at a time when there already is a crunch. [And you can surely expect more owners to switch to short term or vacation rentals whenever possible!!]
“While the intent of rent control laws is to assist lower-income populations, history has shown that rent control exacerbates shortages, makes it harder for apartment owners to make upgrades and disproportionally benefits higher-income households,” Doug Bibby, president of the National Multifamily Housing Council, which represents the apartment industry, said in a statement Tuesday about the Oregon bill.....The bill also sharply reduces the circumstances in which tenants can be evicted.
At least the law exempts buildings with less than 5 units, so very small buildings with owner-occupants would be spared.
Apartment buildings with fewer than five units are exempt from the bill. So are housing complexes that are less than 15 years old.