SACRAMENTO, Calif. (AP) – Backers of an initiative to allow more rent control in California say they have gathered enough signatures to make the November ballot.
Roughly 200 supporters cheered the announcement at a Monday rally on the steps of the state Capitol.
The initiative would repeal a 1995 law that restricts rent control in California. That law bars cities from capping rent on buildings constructed after the law took effect and puts other limits on rent control policies.
Opponents say repeal will exacerbate the state’s affordable housing shortage by discouraging developers from building. They say capping rent increases would limit developers’ profits and create disincentives for housing construction.
Supporters pushed back against those arguments and said corporate greed is raising rents so high many can’t afford to live in the state.
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