Moving the goalposts - New Rent Control Law in Richmond CA

[Tom V.]

http://www.contracostatimes.com/richmond/ci_285208...

I am sure I am not the only reader to pick up this article.  City of Richmond, California enacts a rent control ordinance.   I am not clear on if and how it applies to new construction, but I presume it applies to existing housing. 

Pretty frustrating when the local government can come along and decide to cap the amounts that you can raise your rents and keep you from having your rents keep pace with the market.