California Proposition 10 Will Not Help The LA Housing Market
The Facts | California Proposition 10This flawed measure is the wrong way to provide more housing that working Californians can afford. We should focus on better solutions for providing rent relief to Californians than this initiative, including increasing tax credits for renters, passing new bonds to provide public funding for affordable housing construction, and requiring developers and cities to build more affordable housing across the state.
Proposition 10: is the wrong solution for a state that desperately needs to create more affordable housing for middle-class families.
Prop 10 repeals a housing law with no solution.
Prop 10 is the wrong approach to our state’s housing crisis. It repeals an important California rental housing law with no replacement and no plan to address affordable and middle-class housing or deal with the problem of increasing homelessness on our streets.
Prop 10 will reduce affordable and middle-class housing. Independent academic experts from Stanford, UC Berkeley and USC all agree these policies will discourage new construction and reduce the availability of affordable and middle-class housing– and drive up rents for many Californians.
Prop 10 will drive up rental prices: Prop 10 will cause property owners to take rental units off the market in favor of vacation listing services like Airbnb, which means more AirBnBs in our communities and less affordable housing for renters – further driving up housing costs.
Prop 10 will eliminate homeowner protections. Prop 10 eliminates protections for homeowners and allows regulators to tell single-family homeowners how much they can charge to rent out a single room in their homes. Homeowners will be subject to regulations and price controls enacted by unelected boards.
Prop 10 will stick taxpayers with legal bills.
Prop 10 contains a hidden loophole requiring taxpayers to pay the initiative supporters’ legal bills for participating in certain lawsuits, even if they lose and even if their position is frivolous. This blank check benefits lawyers and puts taxpayers on the hook for limitless legal bills. Prop 10 will reduce home values. The policies authorized by this initiative have been shown to reduce property values by more than 10%, according to MIT researchers, and significantly restricts what single-family homeowners can do with their homes.
The average California homeowner could lose $39,000 in the value of his or her home if this initiative passes.
Prop 10 Is opposed by a broad, bipartisan coalition.
Prop 10 is opposed by Veterans of Foreign Wars, Dept. of California, the California Council for Affordable Housing, Leading Age California, California NAACP, both gubernatorial candidates, Democrat Gavin Newsom, and Republican John Cox, and dozens of other organizations who agree this initiative will make our housing crisis worse.
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