Prop 33 could result in higher rents for many, making the state even less affordable, despite its intention to repeal protections established by the Costa-Hawkins Act.
Existing homeowners might decide to sell their properties rather than deal with excessive rent control regulations, further reducing the number of rental units available.
While Proposition 33 aims to provide tenants with affordable housing options, it may inadvertently exacerbate the housing crisis by not addressing the root issue of supply.
Economists generally agree that rent control is ineffective and can lead to unintended consequences, including less investment in new housing and maintenance issues.
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