Sen. Annette Cleveland of Vancouver was the one Democrat to vote in opposition to a invoice capping hire will increase that handed by the Washington Senate on Thursday night.
“While well-intentioned, this bill won’t stop runaway housing costs for families in Southwest Washington — it will make them worse,” Cleveland stated in a Thursday assertion.
Home Invoice 1217 initially would have capped annual hire will increase at 7 %. Nevertheless, senators made modifications to the invoice Thursday that as a substitute cap hire will increase at 10 %, plus the buyer value index.
The modifications now go to the Home for approval.
Cleveland spoke out in opposition to the invoice on the Senate ground Thursday, saying the coverage would discourage housing improvement and make it more durable for small landlords to take care of protected, livable models.
Research present artificially controlling rents causes rents to rise, she stated.
“Most frustrating of all, many experts disagree with this policy. We trust scientists on climate and doctors on health — why not economists on housing?” Cleveland stated.
“This is especially urgent in Southwest Washington, where growth and spillover demand are rising. Just across the river in Oregon, housing construction has slowed as shifting policies and rising costs have made the market less certain due to rent cap policies. We risk repeating those same mistakes,” Cleveland stated.
Oregon was the primary state to enact statewide hire management in 2019 and at present has an annual hire improve cap of 10 %. The direct affect of the cap on housing manufacturing has but to be extensively studied in Oregon.
Cleveland launched an modification limiting hire will increase to 7 % plus the buyer value index per yr, however greater than three months’ discover is required for hire will increase above that threshold.
“While it wasn’t adopted, I remain hopeful we can return to the table and advance real solutions that protect renters and support long-term housing stability,” Cleveland stated.
Final yr, Cleveland’s vote in opposition to a hire stabilization invoice successfully killed it in committee.
Advocacy teams have slammed Cleveland and Senate Republicans for voting in opposition to hire stabilization, in addition to Senate Democrats for voting in favor of elevating the cap.
“There will never be a time when vulnerable seniors, disabled people, low- and middle-income workers and families with children can withstand excessive rent increases,” Michele Thomas, director of coverage and advocacy at Washington Low Earnings Housing Alliance, stated in a press release.
Cleveland stated she sees households priced out of the housing market, younger folks locked out of homeownership, and seniors selecting between paying for drugs and hire. However she believes the invoice falls in need of what Washington’s working households actually want. Southwest Washington deserves higher, she stated.
“We don’t have to choose between doing nothing and doing harm. We can choose solutions that work and already exist — rental assistance, income-based support and incentives to build more affordable housing,” she stated. “That’s what’s going to ship lasting aid.
