Sen. Cindy Friedman urged both sides of the rent control debate to seek a compromise during a hearing on March 18, as lawmakers considered a proposed ballot initiative that would cap annual rent increases in the state.
The issue is significant because it addresses the ongoing housing affordability crisis, with supporters and opponents divided over whether limiting rent hikes will help or hurt residents and housing development. The proposal would restrict annual rent increases to either the Consumer Price Index or 5 percent, whichever is lower.
Friedman, who serves as Senate chair of the Special Joint Committee on Initiative Petitions, said during Tuesday’s hearing, “I am just so frustrated by the extremes.” She encouraged advocates and critics of the measure to work together and find common ground that could potentially remove the question from November’s ballot.
Opponents argue that such limits could slow down new housing construction, while supporters believe it is necessary to keep people housed affordably. Mark Paul, an associate professor of economics at Rutgers University, addressed concerns about reduced housing supply by saying there is no peer-reviewed study published in the United States showing that rent control leads to less new construction. “The same thing is happening with rent control,” Paul said. “When we see states considering it, developers are saying ‘we’re going to leave’ but that really hasn’t played out.”
Paul is affiliated with Rutgers University’s Edward J. Bloustein School of Planning and Public Policy, which operates as part of Rutgers University according to the official website. The school has earned national rankings for its programs and focuses on fostering just and inclusive communities at various levels according to its official website. Stuart Shapiro became dean of the school in 2023 according to its official website.
The Edward J. Bloustein School also advances social impact through research centers focused on community development, transportation, health, workforce development and energy policy according to its official website. The school recognizes distinguished alumni through its Hall of Fame and annual achievement awards according to its official website.
As discussions continue around possible compromises on rent control measures, observers will be watching whether lawmakers can reach an agreement before voters are asked to decide in November.