Prop. 98 debate: Is rent control worth saving?

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A number of smart people have been encouraging me to post on the dueling eminent domain propositions, Proposition 98 and Proposition 99. Because I could not get an appointment for an elective root canal today and was turned down in my bid to volunteer for jury duty, it appears a political discussion cannot be avoided (Aside: there is an election coming up, on June 3, in California).

Naturally these are somewhat complicated propositions, and there is a slim chance that over time I will do justice to the subject. Slim. But not now, not here. My question is this: is rent control worth keeping?

Proposition 98 would outlaw new rent control laws and phase out the old ones. From the Legislative Analyst’s Office summary: ‘The measure generally prohibits government from limiting the price property owners may charge others to purchase, occupy, or use their land or buildings. This provision would affect local rent control measures. Specifically, government could not enact new rent control measures, and any rent control measure enacted after January 1, 2007, would end. Other rent control measures (those enacted before January 1, 2007) would be phased out on a unit-by-unit basis after an apartment unit or mobile home park space is vacated. Once a tenant left an apartment or mobile home space, property owners could charge market rate rents, and that apartment unit or mobile home space would not be subject to rent control again.’

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