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[80] [81] [82] In the rental market, California now has the lowest vacancy rate the state has ever seen, at 3.6%; [83] and while the median rent throughout the state for a two-bedroom apartment is $2,400, the median rent in coastal urban areas is even higher, surpassing $4,000 per month in San Francisco. [84]: 1
This is an accepted version of this page This is the latest accepted revision, reviewed on 26 November 2024. Regulations to reduce increases in housing rents "Rent control" redirects here. For other uses, see Rent control (disambiguation). Part of a series on Living spaces Main House: detached semi-detached terraced Apartment Bungalow Cottage Ecohouse Green home Housing project Human outpost I ...
In 1985, California adopted the Ellis Act, eliminating municipalities' ability to prohibit the removal of properties from rental activities after the California Supreme Court in Nash v. City of Santa Monica ruled that municipalities could prevent landlords from "going out of business" and withdrawing their properties from the rental market. [44]
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The Southern California housing market is finally slowing down after a two-year pandemic boom fueled in large part by record low borrowing costs. Now, with mortgage interest rates on the rise ...
Most economists believe rent control reduces the supply of housing over time, and students of economics are taught this analysis early on in their instruction. [113] Housing industry advocates rely on this analysis to justify laws like Costa-Hawkins, which restrict the ability of municipalities to enact rent control.
[153] [154] In 2023, California passed SB4 which legalized up to 30 housing units per acre on property owned by churches and non-profit colleges, as long as all of the units rent for below market-rate. [153] A UC Berkeley study found that this law opens up about 170,000 acres of land for potential affordable housing development across ...
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