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Chas McClure's avatar

The City owning and renting ~3500 housing units is not the role of government.

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Jeff Giordano's avatar

BD, great job. When I think about what it means to be arrogant it centers on folks who believe their generally ill-informed opinion trumps well researched facts. World class UCSB economist Peter Rupert takes time each year (and sometimes before the Council) to present studies and data that date to the 1940’s showing that Rent Control just does not work (for all the reasons you mentioned). Yet (and I have this on pretty good authority) certain council members have said that they “don’t believe the data.” HUH? Rent control voter propositions have failed at the State level (and within city limits) 3X. Nice that certain council members think their opinion should trump both data and the electorate. Wrong! Sad Truth: Our vacancy rates are at an anemic 1.7% when all data shows that a healthy rate—one that will drive pricing down—is 8%. News Flash: The city pegs 24% of folks as “rent burdened.” Across 500 small US cites —some that I wouldn’t wish my worst enemy to live in—30% of the people are “Rent Burdened”. Yes it sucks that rents are so high but this is America (not just SB!) circa 2025 and Rent Control is not the magic bullet but more inventory is … in my humble opinion.

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