A new study by University of Southern California researchers finds that rent stabilization policies are a key tool in addressing the state’s housing-affordability crisis. Proposition 10 will allow local communities to enact these policies and rein in skyrocketing rent increases as they see fit. The report examines how rent stabilization impacts renters, homeowners, and local economies, finding that these policies promote economic and community stability.
Key findings from the USC report include:
“While the housing crisis requires a range of strategies, moderate rent regulation is a useful tool to be nested in broader strategy. It has fewer damaging effects than are often imagined, it can address economic pain, and it can promote housing stability,” said USC Professor Manuel Pastor, the report’s co-author. “And housing stability matters because it is associated with physical, social, and psychological well-being; higher educational achievement by the young; and benefits for people of color.”
A recent UC-Berkeley study offered similar findings, further underlining the need to pass Proposition 10 in November.
Proposition 10 is a key step towards solving California’s housing-affordability and homelessness crises because it will protect California’s renters and guarantee landlords a fair rate of return, all while laying the foundation for stronger communities. By empowering local communities to limit rent increases and curtail predatory housing practices, cities and counties will be able to create thoughtful laws to address their local housing situations.
A broad coalition of trusted organizations and advocates — from the League of Women Voters and ACLU, to the California Democratic Party to the California Teachers and Nurses Associations, to the Los Angeles Times and Sacramento Bee — are all urging Californians to vote YES on Proposition 10.