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[6] [4] Properties that were under rent control fell into disrepair, and they negatively impacted the property values of the buildings around them. [1] In 1985, Boston mayor Ray Flynn ordered a survey of all boarded up buildings in Boston. [7] By the time rent control ended in Boston, there were more than 10,000 vacant units in that city. [7]
The Tenant Protection Act of 2019 caps annual rent increases at 5% plus regional inflation. [51] For example, had the bill been in effect in 2019, rent increases in Los Angeles would have been capped at 8.3%, and in San Francisco at 9%. [51] The increases are pegged to the rental rate as of March 15, 2019. [51]
Downtown Cincinnati buildings on July 29, 2019. The median rent in Cincinnati was $1,365 in November, up 2.6% in the last year. (Photo By Raymond Boyd/Getty Images) (Raymond Boyd via Getty Images)
This came in the face of lobbies from real estate interests for a 15 percent increase on the cost of rent controlled units. [13] They continued to campaign in 1963 for more low-rent housing, instead of rent increases, as a solution to housing shortages in New York City. [5] In 1968, they published The Case for Overall Rent Control. [14]
Remote work peaked in 2021, with almost 27% of people in the Boston metropolitan area working from home, and the latest available Census data shows it hasn’t fallen significantly, with more than ...
The Wisconsin Housing and Economic Development Authority and Pennsylvania Housing Finance Agency, for instance, have agreed to cap annual rental increases to 5% per year for federal- or state ...
Property tax increases were not expected to cause significant displacement. Some 6,300 to 9,000 new housing units would be needed by 2030 to prevent additional displacement. [187] The areas around Union Square and East Somerville stations were expected to have the highest rent increases – up to 67% in some instances. [187] The US2 mixed-use ...
On the single-family side, starts in October increased 0.2% to 970,000 from September’s revised figure of 968,000. Authorizations to start new single-family development were up 0.5% above ...