California Gov. Gavin Newsom says conversations are underway on rent stabilization, after voters rejected a rent control ballot measure last fall.
Newsom spoke Tuesday in San Jose at a roundtable discussion on California’s housing crisis, saying the state is speaking with housing industry groups about possible next steps following the defeat of Proposition 10 in November.
“We’re working with some of the biggest developers in the state and the biggest advocates — both the Apartment Association, the realtors and others — to pursue what we perceive — or rather, we refer to — as a compromise around Proposition 10,” Newsom said.
The governor’s office later walked that comment back a bit. It says lawmakers are leading those discussions — and that negotiations are centered on a cap on how fast rents can grow.View Article