How Rental Control Will Create Mediocracy Within Lower Class Minorities

Growing up in the inner cities of Long Beach, California, you notice that most minorities are predominantly renting. Generationally, minorities have been last in the race of home ownership due to the fact that most are uneducated on the benefits, or they lack the resources to educate themselves. Over the years, rent has steadily risen and in some areas prices are now “overwhelming”. This is now the time where we take action to inform those on the outskirts of how we can help them become future homeowners. Rent control will allow mediocracy. Let me explain; now since there is a cap on what consumers pay in rent, tenants will be satisfied. The process to homeownership will become longer since tenants are comfortable with the amount of rent they are paying. Additionally, rental units in the future will become scarce.

How voting no on AB1482 will impact minorities

• Rent will continue to be at its most “reasonable” price for tenants. This will make consumers have a higher desire to be owners instead of renters.
• Empowerment throughout minority groups will start to rise. The rental crisis will come to a halt now due to new homeowners and less renters.
• Future generations will also be impacted by the current rental market because those who are now dealing with the current issues will pass down the knowledge they have acquired.

As a Long Beach realtor, I encourage homeownership because of the positive economic benefits that come with it. Most consumers believe California real estate is too high. My advice is to reach out to your local realtor and educate yourself on the programs that the city provides for first time buyers.