OnDemand WTP Pricing Research

Could Anti-Price Gouging Laws Slow Rising Rents? | KPBS

Garcetti wants the state Legislature to approve an anti-price gouging rent cap. Support of such a cap may be building.

Democratic state Senator Scott Wiener of San Francisco said legislators are mulling over whether to pitch a bill as one way to deal with the state’s 3.5 million housing unit shortage over the next decade.

“That shortage is leading to displacement, evictions, people becoming homeless, working families leaving, young people not having stable housing,” Wiener said.

Wiener sees a cap as an interim measure until more housing is built.

“Until we get there, and it’s going to take a while to get there because housing doesn’t get built overnight; and it is a huge hole that we have to fill until we get there, we need to take action to keep people stable in the housing that they have,” he said.

David Garcia, who is policy director at UC Berkeley’s Terner Center for Housing Innovation, said the cap would protect tenants from the most egregious rent increases aimed at removing them from an apartment.

“Tenants receiving increases 25, 30, 40 percent which we read about all the time, those increases would be illegal,” Garcia said.

Read complete article here:

Could Anti-Price Gouging Laws Slow Rising Rents? | KPBS.

Post a Comment

WP-SpamFree by Pole Position Marketing