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Article: Panel: rent control not the answer.(San Diego, California)(Brief Article)
- Article from:
- San Diego Business Journal
- Article date:
- May 6, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After emotional testimony from both renters and apartment owners, a San Diego City Council committee opted not to study a rent stabilization policy.
In order to address the affordable housing state of emergency declared recently by the city, Councilman George Stevens proposed a rent stabilization policy that would keep property owners from raising rents more than once a year.
Under the policy, rent increases could only be a certain percentage based on an economic indicator, such as the consumer price index.
Unlike rent control, rent stabilization is not a permanent regulation. With Steven's proposal, rent stabilization would remain in effect ...