SALEM, Ore.--(BUSINESS WIRE)--Today, the Oregon State House passed SB 608, a bill that creates a new statewide rent control law. The measure now goes to Governor Kate Brown’s desk.
Following is a statement from Doug Bibby, President of the National Multifamily Housing Council, a Washington, D.C.-based association representing the apartment industry:
“There is no doubt that housing affordability is a crisis in Oregon. However, SB 608 will worsen the imbalance between housing supply and demand by allowing for rent control across the state.
“While the intent of rent control laws is to assist lower-income populations, history has shown that rent control exacerbates shortages, makes it harder for apartment owners to make upgrades and disproportionally benefits higher-income households.
“That is why Oregon and a majority of other states have laws in place that explicitly prohibit local municipalities from implementing rent control laws. Reversing course is counterproductive and will not solve the crisis.
“Oregon lawmakers should focus on holistic solutions that encourage more housing supply, facilitate public-private partnerships to tackle many of the existing barriers, and increase direct assistance to renters.”
Following is a statement from Robert Pinnegar, CAE, President and CEO of the National Apartment Association:
“Today’s regrettable action by the Oregon State House of Representatives on SB 608 will lead to unintended, but pre-eminently predictable negative consequences for housing affordability in the state. Rather than focusing on the onerous regulatory environment that constricts the diversity of housing needed to meet the surging demand for rental housing, Oregon’s public officials chose to slide backward by enacting a failed policy that has historically proven to hurt residents and housing supply alike. The National Apartment Association and the National Multifamily Housing Council will continue to promote sustainable, responsible solutions that lead to more apartment construction, and oppose reckless and ill-advised policy approaches like rent control.”
For more than 20 years, the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) have partnered on behalf of America’s apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of 160 NAA state and local affiliated associations, NMHC and NAA provide a single voice for developers, owners and operators of rental housing industry. Apartments and their 39 million residents support more than 12 million jobs and contribute $1.3 trillion to the economy.