On Tuesday, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) announced a major victory, stopping AB 1157 in the Assembly Judiciary Committee. The bill failed decisively. AB 1157 would have imposed permanent statewide rent control on nearly all types of rental housing, including all single-family homes, most of which are currently exempt from the state rent cap law. The bill also would have significantly reduced existing rent cap limits.
C.A.R. strongly opposed AB 1157 because it would have reduced investment in housing, reduced the supply of rental housing, and forced small housing providers out of the market. Numerous empirical studies have shown that strict rent control policies reduce housing supply and worsen affordability over time. This is an important win for the REALTOR® Party and for all Californians who understand that the solution to our housing crisis is more housing, not less.
Source: Sierra Sun Times
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