03 Mar 2019
Carrie Bradshaw was reluctant to give up her Manhattan, rent-controlled apartment on all six seasons of Sex and the City, constantly declaring it’s the only way she could afford her addiction to Manolo Blahnik shoes (just click on the hyperlink, you’ll get my parallel). The HBO series ran from 1998 until 2004 – my graduation year. I’ll admit, the term rent control never stuck with me as I watched the series over and over again, clearly appreciating its humor and grandiose open dialogue.
However, the term had impact on me today as an article was “Slack’d” to me by our company’s Principal, Cory. “Look into this,” he said. The title read, “Oregon to Become First State to Impose Statewide Rent Control.”
As a professional conversationalist, I often encounter people (renters) in Manhattan who say affording anything (residence) without a roommate in The Big Apple is commendable. Being able to afford a suitably-sized (500+ square feet, to be specific) apartment, all while still relishing in all the city has to offer is a challenge. This is after groceries, commuter expenses, drinks with co-workers, and soda tax.
While New York City used to be considered an anomaly, urbanization is now a challenge in many growing markets throughout the United States – Houston; Portland, Oregon; Denver; Nashville – to name a few. And there are certainly pros and cons to urbanization, gentrification, and everything in between.
According to The New York Times article, lawmakers in the State of Oregon passed the first of its kind law (SB 608) in our country to be the first state to impose statewide limits on how much landlords can raise rents.
It’s not a foreign concept. Renters like Carrie Bradshaw and many other Manhattanites love it. But then there are those who are truly in a crisis and say they desperately need it.
Implications on self storage
Lewis feels that there are no direct implications on the self storage sector, at least for the foreseeable future. “SB 608 benefits the renter, and renters need storage.”
It will be interesting to see how this plays out. According to Bibby, he already knows how it will.
"Dynasties rise and fall according to what the Chinese used to call 'the Mandate of Heaven', but life for the peasant changes little."
-Kenneth Minnogue
The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations." > -Thomas Jefferson
