Oregon’s legislature has passed a rent control bill that the governor plans to sign. Emily Makings writes at the Washington Research Council blog,
AP reports that the state Senate has passed the legislation, and
Gov. Kate Brown told reporters she expected the full House to approve the measure. “I look forward to signing the bill,” said Brown, a Democrat.
We wrote about rent control in a 2016 report, including its history and the reasons it is bad policy. (For example, it discourages construction of new rentals and maintenance of old rentals, encourages conversions from rentals to owner-occupied housing, and reduces tenant mobility.)
Click through to her post for more discussion, including a link to a report from Stanford University economists.
We wrote in November of the improbable reemergence of rent control proposals across the country and anticipated legislation this year in Olympia.
A Q13 story reports some are thinking about it. Here’s the takeaway quote:
“It creates so many problems it’s unbelievable,” said James Young, director of the Washington Center for Real Estate Research for the University of Washington.
Young says rental control creates more issues than it fixes.
“The thing is, the side effects are often much worse than what you’re solving,” said Young.