L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell

return2ozma@lemmy.world to News@lemmy.world – 844 points –
L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
latimes.com

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It still the same problem, where would they get the resources to get ownership of that real estate?

Depending on how exactly we're "getting rid of renting", I don't think they would be purchasing the building at today's prices. The landlord is SoL... at best. ;-)

If that is how it is then the tenents would be doing good because the have stolen goods, but in the long run the problem would pop right back up and housing would be much more scarse.