Elizabeth Warren took aim last week at another pillar of Wall Street's empire: the rental housing market. In a portion of her updated version of her ambitious 2018 housing bill, Warren proposed a check on the unregulated takeover of rental housing by the country's biggest investment firms. Instead of allowing Wall Street-backed developers to flip any distressed and foreclosed mortgage into a single-family rental unit, her bill would require the government to help keep the majority of these homes in the possession of individuals, community groups, and affordable-housing developers by setting aside a supply of mortgages that Wall Street can't touch.
Over the last few years, California’s elected officials have finally gotten serious about fixing the housing shortage that is eroding the quality of life here. Lawmakers have passed bills to streamline the development of housing in urban areas and to make it harder for cities to block much-needed housing construction. Voters have approved billions of dollars in new spending to subsidize affordable homes.
SACRAMENTO — The push to expand rent control in California returned to life in the Legislature on Thursday, just months after state voters overwhelmingly rejected an initiative that would have removed barriers to new tenant protection laws.
(AP) — California lawmakers are trying again to tamp down rising housing costs by expanding rent control and stopping rental price gouging, warning a failure to act this year could result in another costly ballot measure in 2020.
SACRAMENTO — Four months after California voters rejected an effort to expand rent control, lawmakers are back with a proposal to loosen decades-old restrictions, allowing local governments to place more properties under rent control.
Reporting from Sacramento — In the wake of a failed ballot measure to expand rent control, California Democratic lawmakers are introducing a host of new measures that aim to increase protections for tenants.
Subprime Redux: How a Mom From Van Nuys Is Taking on the Biggest Real Estate Corporations in the Country
Silvia Venegas grew up in Van Nuys. She raised her children there. She calls herself a “typical Latina Valley girl.” And now’s she in a fight the likes of which Los Angeles hasn’t seen since the dark days of the Subprime Mortgage Crisis.
Vanessa Bulnes and her husband, Richard, bought their house on 104th Avenue in East Oakland, Calif., in 1992. The modest two-bedroom property is where they lived for 20 years, raising three children, and where Vanessa made a living running an in-home day-care center. Neighbors in the mostly African American community often saw her planting vegetables in the backyard, with her kids in tow.