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.