Steep rent increases during the pandemic recovery have spurred support for rent control legislation in several areas of the country, according to a report by Wealth Management.
In the recent midterm elections, voters created new rent controls and toughened existing rules from California to Florida to Maine. Three cities in California—Pasadena, Richmond, and Santa Monica—already had rent control provisions on the books but passed tougher rent control measures.
BALLOT MEASURES GO AROUND RENT CONTROL PROHIBITIONS
In most of the country, rent control laws are prevented by state law, but ballot measures approved by voters can circumvent those restrictions. Support for rent control has recently surfaced in areas where support has not been strong, according to National Multifamily Housing Council (NMHC) official. Minnesota and Michigan are among the states where support for rent control is growing.
NMHC argues that rent control won’t counteract the macro forces pushing rents higher that create a mismatch of supply and demand. But as the housing shortage continues to worsen, tenant advocates will push for more immediate relief.
Related Stories
Multifamily Housing | Jan 26, 2021
Merriman Anderson/Architects designs affordable housing complex out of shipping containers
The architect partnered with CitySquare Housing on the project.
Multifamily Housing | Jan 20, 2021
Abandoned Miami hospital gets third life as waterfront condo development
The 1920s King Cole Hotel becomes the Ritz-Carlton Residences Miami in the largest residential adaptive reuse project in South Florida.
Multifamily Housing | Jan 19, 2021
$100 million affordable housing development under construction in Santa Clara
KTGY Architecture + Planning is designing the project.
Multifamily Housing | Jan 14, 2021
The Weekly show, Jan 14, 2021: Passive House innovations, and launching a design studio during the pandemic
This week on The Weekly show, BD+C editors speak with AEC industry leaders about innovations in Passive House design, and the challenges of building a design team and opening a new design studio during a pandemic.
Multifamily Housing | Jan 11, 2021
McHugh Construction completes 5th-tallest all-residential building in the U.S.
McHugh Construction Completes Two Chicago Apartment Projects for Fifield Cos. and Crescent Heights, Including NEMA Chicago –Tallest All-Residential Building in Chicago and 5th Tallest in North Americ
Multifamily Housing | Jan 8, 2021
Student housing development in the time of COVID-19
Despite the coronavirus pandemic, many college and university residences were completed in time for classes, live or virtual. Here are 14 of the best.
Multifamily Housing | Dec 29, 2020
Sarah’s Circle supportive housing facility for women completes in Chicago
Perkins+Will designed the project.
Market Data | Dec 29, 2020
Multifamily transactions drop sharply in 2020, according to special report from Yardi Matrix
Sales completions at end of Q3 were down over 41 percent from the same period a year ago.
Multifamily Housing | Dec 16, 2020
What the Biden Administration means for multifamily construction
What can the multifamily real estate sector expect from Biden and Company? At the risk of having egg, if not a whole omelet, on my face, let me take a shot.
