Oregon Considering State Wide Rent Control
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
District Invest Group546 Reviews
Oregon Considering State Wide Rent Control
Most Popular Reply
Rental Property Investor · TX · Member since 2019 · 236 posts · 392 votes
7ysince we are not talking politics, I will just say God Bless Texas.
32 Replies
- Rental Property Investor · Oakland, CA · Member since 2014 · 730 posts · 1k+ votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Bill F.:
@Jay Hinrichs It never ceases to amaze me the creativity and speed with which people can find work arounds to nearly any legislation designed to change behavior.
Shows the power of incentives.
I don't have the answers but I can tell you the homeless problems on the west coast and Honolulu are real and very difficult to deal with.
people are camping out every where.. city govmit does nothing or little to stop them.. homeowners end up with some derelict camper in front of their house.. waste garbage stealing water and power.. then in the commercial areas some business have had to shut their doors with the homeless driving away customers.. the west coast though has had rent control in MHP parks for ever.. you just deal with it.
For anyone who wants a lesson what rent control does... drive by the Oakland (CA) Home Depot. Used to be a nice area, now it’s filled with 300+ homeless people, 100+ tents, and broken down RVs, trash everywhere. Mayor and city council refuse to do anything.
This will be Portland in 10 years.
- Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes7y
@Jay Hinrichs Not to shift the topic from rent control/ affordable housing to homelessness, but I lived in SoCal for three years and after growing up on the east coast the homelessness was a bit of an adjustment. I was used to seeing it in the cities, but not the suburbs.
Last year my wife and I visited Seattle and we were shocked. We were used to San Diego/LA homlessness, but this was on a different level. The miles and miles of tents lining the five from SeaTac north and under the Alaskan Highway. Never seen anything like that in the US.
You are 100% correct, it is a very real issue that needs to be addressed. The data is pretty clear though, rent control is not the solution to either issue and in fact hurts the supply of affordable housing in the long run.
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Account Closed:
Originally posted by @Jay Hinrichs:
Originally posted by @Bill F.:
@Jay Hinrichs It never ceases to amaze me the creativity and speed with which people can find work arounds to nearly any legislation designed to change behavior.
Shows the power of incentives.
I don't have the answers but I can tell you the homeless problems on the west coast and Honolulu are real and very difficult to deal with.
people are camping out every where.. city govmit does nothing or little to stop them.. homeowners end up with some derelict camper in front of their house.. waste garbage stealing water and power.. then in the commercial areas some business have had to shut their doors with the homeless driving away customers.. the west coast though has had rent control in MHP parks for ever.. you just deal with it.
For anyone who wants a lesson what rent control does... drive by the Oakland (CA) Home Depot. Used to be a nice area, now it’s filled with 300+ homeless people, 100+ tents, and broken down RVs, trash everywhere. Mayor and city council refuse to do anything.
This will be Portland in 10 years.
its already in Portland. not at home depot but everywhere else.. I was in SF last week and drove up 80 to napa to see Mom..
the homeless line 80 in Emeryville.. I really felt bad for those shop owners there.
in Porland at the Tesla dealer on the side of the building is a railroad track there was 100 or so there.. not sure where these folks used to live but I think it becomes kind of a badge for a lot of them..
I worked in the 60 and 70s with homeless. in San Jose.. we called them hobo's then.. they pretty much jumped trains .. but my dad in a day before direct mail marketing.. did door hangers.. so we would go down to the Y and pick up the hobos that were kicked out after breakfast and pay them 10 to 20 dollar cash to walk the streets handing out my dads real estate flyers.. I did this all through my teenage years.. pick them up in San Jose drive up to the SF walk them 6 hours drive them back hand them 20 bucks.. they go buy their mad dog 20 20 pack of smokes and 3 bucks to flop and the Y.. or the Osnan center in down town SF..
Like I said I have no answer.. and don't really know where these folks are coming from or why they want to camp out like that. Its become a community I guess.
Now I go to say Charleston and you See no street people I think the police there probably don't allow it.
- Rental Property Investor · Jersey City, NJ · Member since 2011 · 1k+ posts · 876 votes7y
What has only been touched on here, but is central to the west coast housing crisis, is zoning. You have low density cities attracting people with well paying jobs where the majority of the housing stock is suburban style, and none of the incumbent residents wants high density development in their neighborhood, however much they want lower prices and rents. These are directly opposed desires.
In Berkeley, one of the cities that has risen the most, people got hysterical when a developer wanted to put 3 homes on a 50 x150 lot. Here in JC they'd be putting up at least 30-300 on a lot that sized if they have the zoning or a variance. But most of my city is zoned 2 family, 35' high max, which creates 2 relatively huge homes per 25 x100 lot instead of the 6-10 smaller homes that were commonly built here 100 years ago. Someone tried to build a tower of 40 "micro units" for young people, and was shut down by the neighborhood groups.
So high costs and the desire for rent control isn't due to uncontrollable circumstances, its the obvious outcome of community policies to discourage the natural dense development that the economics of those cities would normally dictate. They refuse to let supply=demand and then whine about high prices. I have friends here who are thrilled their property value has doubled, but are horrified a developer wants to put a 5 floor building across from their backyard. They see no dissonance, they just want what they want, their home value to keep rising but the neighborhood to be sealed in amber. Except for the new restaurants and coffee bars of course!
- 7yMike NussPro MemberReal Estate Entrepreneur · Portland, OR · Member since 2014 · 451 posts · 328 votes
Rent Control is a loaded term. As many have mentioned already, specific laws vary between jurisdictions.
The proposed Oregon bill is a pretty soft "rent control" bill that stills allows the power of a fixed term lease (where as Portland killed fixed term tenancy with it's relo policy). The tenant advocates in Portland have been very vocal and negative on the proposed bill, because they believe it is very weak. The proposed bill is 180 degrees from HB2004 in 2017. That would've removed the rent control ban statewide (which would've allowed Portland to create a very agressive rent control policy) and eliminated no cause terminations.
If you're a property owner in Portland, and plan to continue owning in Portland, this is a much better outcome than simply removing Oregon's ban on rent control.
- Tampa, FL · Member since 2019 · 22 posts · 31 votes7y
Wow that sounds like a big problem coming their way. But what exactly would be taking place under this rent control?
On a side note, if Oregon goes that route then you can expect places like California might start going that route too.
- Rental Property Investor · Los Angeles, CA · Member since 2017 · 210 posts · 155 votes7y
Based on what's going on in Oregon, how are RE investors planning to respond or move forward? Sue the state? Convert units into condos and sell everything to owner-users to remove rental property from the market and invest in the business-friendly states?
Join the conversationCreate a free account to reply, vote on answers and follow this thread.