Following the money reveals the gaming of the state’s initiative process.
A November initiative is the latest battle in a long war that has driven housing costs in the Golden State exorbitantly high.
Although California’s leading politicians favor rent-cap legislation, none is on the horizon.
Even in defeat, tenant advocates say their campaign brought new organizing energy and new allies who will help with upcoming battles to strengthen renter protections.
Co-published by The American Prospect
Topping the list of corporate anti-rent control donors are some of the country’s largest landlords — many funded by Wall Street investment dollars — whose bottom lines could be negatively affected by Prop. 10’s passage.
Rent control would not fix L.A.’s affordable housing crisis, but it would help long-time renters in neighborhoods that are suddenly desirable in the eyes of investors.
Co-published by International Business Times
In California’s recent legislative “grand compromise” of an affordable housing package, developers got subsidies for building and a streamlined path to construction. It’s hard to see what they gave up in the exchange.
Co-published by The American Prospect
California’s red-hot housing market has made renters vulnerable to rapidly increasing rents that they struggle to pay, or to evictions implemented by landlords who want to raise the rent on new tenants.