X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
John Sebree Sebree says Prop 10 fails to address the underlying housing challenges faced by state residents.

SAN FRANCISCO—According to the California secretary of state, Proposition 10 initiative statute expands local governments’ authority to enact rent control on residential property. It would repeal state law that currently restricts the scope of rent control policies that cities and other local jurisdictions may impose on residential property. It would have a potential net reduction in state and local revenues of tens of millions of dollars per year in the long term, and depending on actions by local communities, revenue losses could be less or considerably more, says the state voter guide.

In this exclusive, John Sebree, first vice president and national director, national multi-housing group with Marcus & Millichap, recently weighed in on the downside of Prop 10, its impact on rental properties and what a yes vote would mean for the California housing crisis.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.