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Co-Founder & Head of U.S. Strategy, Paladin Realty Partners, LLC

For the 3rd time in recent years, California voters rejected efforts to expand rent control by a resounding 20-point margin. The latest attempt, #Proposition33, would have repealed the 1995 Costa-Hawkins Rental Housing Act, a relatively balanced housing policy aimed at incentivizing new housing development by prohibiting municipalities from capping rent on vacant units, single-family homes and apartments built after Feb. 1, 1995. With a statewide housing shortage totaling one million units, the solution to California’s affordable housing crisis is clear:  WE NEED MORE SUPPLY!! Additionally, the Los Angeles Times published a new article with the #Prop33 election outcome. https://lnkd.in/gUZp5HF2   For more insight, see the link to my blog below:  https://lnkd.in/grxMpqzg

Proposition 33, the rent control statewide ballot measure, is rejected by California voters

Proposition 33, the rent control statewide ballot measure, is rejected by California voters

latimes.com

Jeffrey Palmer

Partner at PMI Properties. 45 years and 5 cycles in Profitable Real Estate Investment

1mo

Thanks for sharing these insights—supply really is key in balancing the market.

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