Siding with Landlords and Lenders, Voters Reject Expanded Rent Control

National Mortgage News, Nov. 7, 2018–Elina Tarkazikis (free article)
California voters rejected Proposition 10, which would have reduced state restrictions on municipal rent control laws that proponents said would create more affordable housing options for tenants, but was opposed by real estate and mortgage industry interests. “We recognized early on that this could have a very far-reaching impact on the multifamily industry and the housing industry, so we’re very pleased with the outcome of the election,” said Sharon Walker, associate vice president of multifamily at the Mortgage Bankers Association.