Alejandro Lazo
speaker
41 appearances
1 recordings
1 series
first heard Oct 2019
last heard Oct 2019
Alejandro Lazo’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · California's New Rent-Control Law: More States to Follow · 9 Oct 2019
podcast
This law is pretty straightforward.
It just caps rental increases at 5% annually plus inflation.
And it gives some protections to people living in rental housing.
Basically, you can't just be evicted without cause.
The housing problem in California is pretty bad.
I mean, pretty much across the board for, you know, I guess from everyone who you would consider moderately wealthy, who, you know, still have to pay quite a bit to buy a home on the coast where they have their jobs that employ them and give them high incomes to, you know, the poorest among us here in this state, which has a very high homeless population, as we noticed in the story.
California has...
its homeless population has grown in recent years.
You can visibly see what people describe as unsheltered people living on the streets and really suffering, living in tents.
And yeah, it's a bad situation.
Affordability has dropped quite a bit in California since the housing bust, both for people who are looking to own a home and as well as those who are renters.
More than half of renters in California spend more than 30 percent of their incomes on
on rental housing.
That number can be further broken down and you can look at people who are quote unquote severely burdened in the state of California.
That's 28% of renters in California who pay more than 50% of their household incomes on rent.
Those are pretty substantial numbers nationally.
Those two states are the ones this year that have passed some measures of rent control measures as well.
New York tightening up some of its legislation and New York being the first state this year to pass a statewide rent control measure.
So these are states that are controlled by Democrats and Democrats.
Certainly, the Democratic Party is turning to price controls as a way of sort of alleviating the cost issue in what are obviously very expensive housing markets.
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