In November 2024, California voters will decide on an initiative to repeal restrictions on rent control, led by housing advocates. The move follows previous failed attempts in 2018 and 2020 to overturn the Costa-Hawkins Rental Housing Act, Ih currently prevents rent control on single-family homes and post-1995 apartments. Proponents argue that the initiative will protect vulnerable tenants as Increasing rents push more Californians toward homelessness. Opponents fear the measure will hinder market dynamics.
This decision holds potential implications for the broader housing landscape in California, the nation’s most populous state, and potentially other states, as happenings in the Golden State often filter to others.