Time For Action - No on Prop 10!

All of us in the architecture, engineering and construction (AEC) industry have benefited from one the longest economic expansions in our lifetime. That being said, even as we see so many new multifamily projects crop up over our skylines, certainly no one can argue we have a housing crisis in California.

Proposition 10 would repeal a decades-old state law called the Costa-Hawkins Rental Housing Act. Costa-Hawkins is much reviled among tenant advocates because it limits how and how widely cities can impose rent control.

I work daily with developers in California in pricing the construction of all classes of multi-family housing. A 'NO" on prop 10 will enable these developers to continue with their projects and plans. A 'YES' would cause a reset. As it currently stands, developers have huge challenges to develop in California with very high construction costs, an entitlement process that take 3-5 years before you can even start, and tightening credit.

There is no doubt we need bi-partisan, sensible leadership out of Sacramento that encourages more affordable housing but solutions that do not land solely on the rental housing industry. Economists right and left are almost universally opposed to rent control as a policy tool because various studies show price caps can make affordable housing problems worse in the long run. If this measure passes, you will see less activity by developers, making California’s housing shortage worse by discouraging construction. All the more reason we get this issue right, and Prop 10 is not a solution. 

How to act:

Visit www.NOPROP10.org

Get out the vote: Educate friends, family and co-workers and encourage their voting. Printable flyers are on the website.