Rent Control: SANTA CRUZ County is Pushing Forward: MY Opinion

By
Real Estate Agent with BAILEY PROPERTIES CA BRE# 01897214
Rent Control:  SANTA CRUZ County is Pushing Forward:  MY Opinion
 
This is a topic where anyone you speak with could have a different opinion, depending on their living or financial situation.
 
Growing up, and living most of my life in Santa Cruz , I find the many changes to our community are just something I often find frustration with. Although, when I look elsewhere within the US to areas that have always been popular to the public, it’s easy to see we are not alone with the many problems this booming town now faces.
 
We have the Tech Center of the world expanding by leaps and bounds just 1/2 an hour away.  The Tech community is sprawling into many adjacent Bay Area towns and bringing population growth with it. This growth is forcing rents and purchase prices for housing through the roof!  We are talking about millions of people living in an area where there is just not enough housing. Are some of these people coming to Santa Cruz looking for housing? More than many of us might realize!
 
Santa Cruz, already has had it's own growth issues for years, as it is basically a small beach community that never planned well for what is happening today. With a  major University that has room to grow its campus, and it will, Though it won't be really providing housing for all of its growth. A popular JC that has a large student population is also here.  With the trees to the sea, recreation is huge here. Tourists from short distances and long, flock to this little town, many end up buying second homes here. More than you think! Capitola, 52% of all housing owned is a second home! Many of us raised  our families here and work hard to keep our kids close to us. The Centrally Valley is having its own population explosion and with the heat of that valley? Those neighbors flock to the cool ocean breezes of our coast and also buy here.  This town has numerous growth pressures, that i do not see going away. 
 
I feel we need more housing, although I personally feel on a much bigger scale our country's or even the worlds population growth is now to the point that towns like Santa Cruz and Area's like the SF Bay Area will never find the kind of balance we seek out.
 
Rent control and all the other restrictions that are now tightening the reins on Multi-Unit landlords in the City, will surely hit other parts of the county going forward. Maybe it's something that must happen at the moment?. Do I support it?  Yes and No.. I understand how prices are hurting so many. It's a big concern and a worry. So yes!  Although, I also understand that landlords have millions of dollars tied into properties and should be able to get fair returns for on going property maintenance and income on the risk and investment. It should be noted, many of these owners do not continually push prices to the max.
 
So beware, what history has shown is that within some cities in the north eastern US who decades ago implemented rent control are now seeing the tenants pay the price. As landlords generally have taken that allowable 2% rent increase annually since the laws went into effect.  
 

 

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