San Jose rent control ordinance

[Brad S.]

Hello ! Love this site and great respect for all the Pros helping small timers learn and grow. Questions out of curiosity. - What do you think would be the impact of such kind of ordinance in high growth area like San Jose. Would multi family prices really go down and investor move to other cities. - Can other cities adopt same measures across Bay Area / CA. - How do existing properties go from being not to being rent controlled or does that not happen? Here's the link if you haven't heard already: http://www.sanjoseinside.com/2016/04/20/san-jose-city-council-lowers-rent-control-cap-to-5-percent/