On November 6, California residents will vote on Proposition 10. The measure would allow cities to impose a wide range of rent-control policies. Proponents say they are trying to fix the affordable housing crisis. But rent control actually does the opposite: It reduces the supply of rental housing, drives up overall housing costs and chokes off new construction, according to extensive research on cities that have enacted rent control. Rent control also discourages owners from improving their properties, diminishing quality of life for renters and deteriorating neighborhoods. How will Proposition 10 affect your investments?
To learn more, please join Marcus & Millichap on September 6 at 10:00AM Pacific for an educational webinar on Proposition 10. #NoOnProp10