California rent-control measure qualifies for November ballot
Democrats, doing what they do best...! Screwing up supply and demand economics and disincentivizing investment of capital into apartments, condos, and homes. Then they wonder why no new construction of multi or single family homes happen in rent controlled areas....?
Idiots...! Economics 101...
http://www.kcra.com/...ballot/21568452
SACRAMENTO, Calif. (AP) —
California's secretary of state says a measure that would expand the ability of local governments to enact rent controls on residential properties has qualified for the Nov. 6 ballot.
Secretary of State Alex Padilla said Friday he plans to certify the measure later this month.
If passed voters, it would give cities and other local jurisdictions more authority in limiting the rents residential property owners may charge for new tenants, new construction and single-family homes.
The state's legislative analyst and director of finance estimate it could decrease tax revenues and potentially increase government costs that could be made up by fees on owners of rental housing.
To qualify, it needed 365,880 signatures of registered voters.
Padilla says it received 402,468 projected valid signatures as of Friday.
