No new affordable housing units will be created, new housing construction will decline, and construction jobs and trades servicing the apartment industry will be negatively impacted.
All protections against onerous rent control laws will be eliminated statewide. Property owners will be at the mercy of local government and special interest groups.
All public employee pension funds, many of which are heavily invested in apartment buildings, will decline in value and unfunded pension liabilities will increase even more.
All vacancy decontrol can be eliminated, meaning that your local lawmakers and non-elected rent control boards can limit the amount of rent you can charge to new tenants after your old tenants move out.
Rent control can apply to condominiums and single-family homes, and not just to apartments anymore.
Many more communities throughout California will be emboldened by rent control activists and special interest groups to pass laws that will severely restrict your property rights and the rent you can charge.
Hundreds of millions of your tax dollars are at stake. Any court actions to challenge its constitutionality will be paid by taxpayers. That's you!