Housing Affordability
As your governor, I will pass a bill to limit corporations investing in apartment buildings and single or multi- family housing projects. By limiting their ability, what that means is I will put a cap on how much property institutional investors could acquire. This will stabilize renter’s market and make rent and housing more affordable for regular people. I will limit the number of purchases that institutional investors could make in the future. In a city like Los Angeles, our research indicates that over 43% of all rental units are owned by corporate entities. If you include trusts and large-scale management vehicles, some estimates suggest that up to 67% of California rentals are under some form of speculative or institutional investment structure, which creates an unfair market monopoly.