Alliance of Californians for Community Empowerment along with Michael Weinstein is proposing a new ballot measure to repeal the 1995 Costa-Hawkins Rental Housing Act. The proposed ballot measure comes after the House Assembly bill AB 1506 failed to pass. To find out more about the proposed ballot measure, we sat down with Sturai Yusufi of Commercial Brokers International for an exclusive interview.

GlobeSt.com: What is the motivation to repeal the Costa-Hawkins Rental Housing Act?

Sturai Yusufi: This is something in the making because of the cost of housing going up and rental price increases. People are being displaced and homelessness is on the rise. Earlier ballot measures focused on affordable housing really enforced this conversation. With AB1506 not passing, now there is a greater push for the ballot. I think they would have had a harder time passing a house measure, and I think they will have better luck with the ballot because there are so many people who are in support of more affordable housing. In Los Angeles, there are more than 1.5 million people paying more than 50% of their income toward rent. When you have something like that, this is a ballot measure that a lot of people can get behind.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.