Today: MBA, California MBA Host Free Webinar to Urge Opposition to Rent Control Ballot Initiative

Tuesday, Oct. 15 at 4:00 PM Eastern/1:00 PM Pacific, MBA and the California MBA will hold a free webinar (open to all Mortgage Action Alliance members – whether or not you live in California) in support of their joint “No for Me on Prop 33” campaign to urge members to vote against California’s Proposition 33 (Prop 33).

California voters have rejected rent control at the ballot twice before and hopefully will do so again.

Why it matters: Prop 33 would repeal the Costa-Hawkins Rental Housing Act and would allow local governments to set residential rental rates when a unit becomes vacant – actions which will harm the multifamily real estate market and housing affordability. Repealing Costa-Hawkins would create a patchwork of state and local price control laws that would make lending more costly and negatively impact affordable credit availability throughout the state.

What’s next: The webinar will provide more information about “No for Me on Prop 33” campaign, the ballot process in California, and explain why rent control fails to achieve its stated policy objectives and actually negatively impacts pricing and availability. Register for the free webinar here and encourage industry colleagues to participant – and vote against Prop 33.

For more information, please review this issue brief and contact William Kooper (202) 557-2737 or Jamey Lynch (202) 557-2818.