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Old 04-25-2018, 02:52 PM
 
5,566 posts, read 3,157,555 times
Reputation: 5454

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Quote:
Originally Posted by saybanana View Post
It is just going to be put on the ballot in November. It is up to the LA city voters. Democracy. If you dont like it then vote against it, simple as that.
Yup, LA voters have shown to be smart and logical about their choices. Just look at the city today. Nothing wrong.
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Old 04-25-2018, 03:09 PM
 
1,444 posts, read 1,044,269 times
Reputation: 2283
Quote:
Originally Posted by CaliRestoration View Post
Yup, LA voters have shown to be smart and logical about their choices. Just look at the city today. Nothing wrong.
Actually, Costa Hawkins is a state law, it will require a majority of state voters to rescind it. I'm not saying California voters are amazing, but hopefully with that many people voting, it won't pass.
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Old 04-25-2018, 03:14 PM
 
919 posts, read 1,086,596 times
Reputation: 608
How will limiting increases to something reasonable 3-5% per a year kill off all the apartment developers?
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Old 04-25-2018, 03:36 PM
 
5,566 posts, read 3,157,555 times
Reputation: 5454
Quote:
Originally Posted by kasuga888 View Post
How will limiting increases to something reasonable 3-5% per a year kill off all the apartment developers?
Let me ask you, have you ever seen this graph?



By artificially setting a price ceiling you will restrict the amount of units that will be offered on the market by landlords. It won't kill off all developers, but it will definitely cause some to not even enter the market, and one of the biggest problems with housing in California is extremely limited supply (rent or buy).

Maybe 3-5% is reasonable, or maybe rents would naturally increase 10% based on the market. The market should dictate the amount of units offered at a certain price, not the government. Rent control, in every place it has been implemented, has had the effect of raising rents and restricting supply, every time.
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Old 04-25-2018, 06:08 PM
 
Location: La La Land
1,603 posts, read 2,093,163 times
Reputation: 2760
Quote:
Originally Posted by V8 Vega View Post
Stupid mayor and city council is set to approve rent control. If rental property owners cant make any money or even lose money their going to get out of the business. The laws are already skewed in favor of the renter, Democrats hate business and see them as out to screw everybody.
Owners will convert apartment to condos and builders won't build new apartments if it's a losing proposition.
Homeless will increase.
Always enjoy a nicely uninformed rant. Do some research, there are limits on who can apply, it's not across the board for all new construction.

Laws are always in favor of tenants because there are more of them who vote and they require more protection since it involves their shelter.
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Old 04-25-2018, 06:15 PM
 
Location: Los Angeles (Native)
25,306 posts, read 16,517,408 times
Reputation: 12191
Quote:
Originally Posted by kasuga888 View Post
How will limiting increases to something reasonable 3-5% per a year kill off all the apartment developers?
Because it’s a risk and big investment to develop an apartment building . Limiting rent increases ads more risk.
Also costs go up for the apartment owner too . Utilities go up , landscape goes up , maintenance workers etc .

I could see this as a good thing for neighboring cities / areas as developers will be more attracted there.
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Old 04-29-2018, 10:57 AM
 
Location: Los Angeles (Native)
25,306 posts, read 16,517,408 times
Reputation: 12191
In NYC , this lady is renting an apartment for $100 month .. market rent is $1800

She’s been a nightmare for the landlords .

This is probably Garcetti’s vision for L.A

—-

DeTommaso pays just $100 a month for the ground-floor unit, located on an industrial stretch of the Hunters Point neighborhood. A similar two-bedroom unit in the building, which dates to 1930, was recently listed for $1,800 a month, according to the real-estate Web site StreetEasy.



https://nypost.com/2018/04/28/i-got-...partment-deal/

Last edited by jm1982; 04-29-2018 at 11:24 AM..
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