NPR announced this morning that back in March 2019, the State of Oregon has passed a Senate Bill 608 for rent control by capping landlords from increasing rents exponentially overnight and added more eviction procedures more stringent for landlords. Now other states in the Nation are seriously paying attention to Oregon's new Bill and are taking a rental reality-check assessment in their states to probably follow suit. The State of New York is now making vociferous noises among its own lawmakers and landlords who are trembling in their shoes.
The renting situation has always been a catch-22 situation. Historically and anywhere in the world, the less fortunate segment of the population has always struggled to make ends-meet because they operate/survive on a meager budget, which is usually blown out in no time. Though many people (middle to upper class) could always afford to buy adequate housing while the lower class rented. Today, in conjunction with our spend-full society who charge everything instead of saving (which lowers credit scores), the lower class population, consequently, don't have enough money to make adequate down-payment on a purchase or they won't be able to afford the cost to maintain ownership. Naturally, that forces young families and individuals to take "the Renting Avenue"; thus, creating an insatiable demand for rental apartments and an open season for landlords. Now, just about everywhere in the Nation, people are having a hard time making good on their rents.
Are you in favor of "Rent Control Laws"?
