COSTA MESA, CA—Panelists at the recent Crittenden National Real Estate conference here on Wednesday focused how to stay ahead in an ever-changing multifamily world and how to adopt new technologies in order to compete with new players in the market, among other things. Moderator Noah Miller, VP of acquisitions and finance at Pensam Residential, first asked panelists about the most pressing issue in California today, which is housing affordability and rent control.
As mentioned in an earlier panel that day, rent control is one fear on everyone's mind. Panelist Barry S. Altshuler, EVP of Equity Residential, said that rent control is the single most pressing issue not only in the multifamily space, but in CRE in general. And it isn't just a California issue, he added.
“People have to be aware that what may start in California will go to other places. The measure that is likely to get on the ballot is a repeal and a very organized effort to unwind rent control protections,” he said, adding that battles are being fought as we speak.
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