Hon. Assembly Member,
I am writing to urge you to vote ‘No’ to AB 1506 because it will devastate housing in California.We all know in the past a couple of years job growth in Bay Area has grossly outpaced housing development. It is the housing shortage that caused the rent spike.
To solve the problem government should encourage more housing development and protect independent housing investors to provide more rental properties.
Costa-Hawkins provides essential protection and incentive for developer and independent rental owner to invest in housing market. Repealing Costa-Hawkins will cause massive exodus of investors and developers from California housing market. It in turn will worsen housing shortage problem. The impact will be even more profound for affordable housing.
Rent control is counter productive. San Francisco’s decades long rent control has resulted in one of the most expensive rental market in the country. Rent control KILLS affordable housing for everyone.
Please vote NO to AB 1506!!!