Smith & Berg Property Group is committed to helping our community stay informed. As LA prepares for Tuesday's election, we'd like to take a moment to illuminate some of the issues that could impact property ownership in LA, including significant changes to housing, safety, and community policies.
Today's blog is diving into key ballot measures that could affect property values, rent regulations, public safety, and infrastructure — providing you with the essential information to make informed decisions. Let’s get into it.
Local Housing Measures
This election cycle includes several significant housing-related proposals that Los Angeles voters will consider. Proposition 33, a key ballot measure, focuses on rent control and would potentially allow local governments more flexibility to introduce or expand rent regulations. This measure has generated discussion from various stakeholders:
→ Supporters emphasize the potential for increased housing stability in high-cost areas
→ Others raise questions about possible effects on housing availability and investment
→ Economic experts discuss various projections about market impacts
Smith & Berg Property Group strongly urges a NO vote on Prop 33. We encourage property owners to review the official voter information guide to fully understand the scope and potential impact of this and other housing measures.
Founding Partners F. Ron Smith & David Berg
National Housing Market Context
The national conversation around housing continues to focus on affordability and interest rates. Rising rates have made homeownership more expensive, influencing both buyers' purchasing power and homeowners' refinancing options. Candidates are addressing various solutions, including proposed federal funding for housing programs. Housing inventory and affordability remain key concerns across major metropolitan areas, including Los Angeles.
Public Safety & Community Initiatives
The ballot features several initiatives focusing on public safety and community development, which can influence property values and neighborhood appeal. These measures include:
→ Public service funding proposals
→ Homelessness initiatives
→ Infrastructure improvements
→ Community development projects
In addition, voters will weigh in on the LA County District Attorney race, with incumbent George Gascón running against challenger Nathan Hochman. The outcome of this election could shape the future of public safety policies, including prosecutorial strategies and crime prevention efforts, making it a key race to watch for those invested in community well-being.
The specific details and potential impacts of these measures vary across different districts, with each area facing unique challenges and opportunities for community development.
What Property Owners Should Know
When evaluating ballot initiatives, property owners should consider how proposed changes might affect their property values, development regulations, and community infrastructure. Understanding potential effects on property management and investment implications can help inform decision-making. Local safety measures and community development initiatives may also impact neighborhood dynamics and long-term property appreciation.
Looking Ahead
As policies continue to evolve, staying informed about both national and local developments becomes increasingly important. Smith & Berg Property Group remains committed to serving our clients and community with the highest level of expertise and professionalism. We encourage all residents to:
1. Review official election materials carefully
2. Consider both immediate and long-term impacts
3. Stay informed about local development plans
4. Participate in community discussions
5. Monitor both local and national policy developments
Resources for Voters
For detailed information about specific measures and their potential impact, we recommend consulting:
→ Official LA County Voter Information Guide
→ Los Angeles City Clerk's Office website
→ Local neighborhood council meetings
→ Professional real estate associations (like us!)
→ Housing policy research organizations
The 2024 election represents an important moment for Los Angeles property owners. The landscape of housing policy continues to evolve, and staying informed and engaged in the process helps ensure our community's continued growth and stability.
Smith & Berg Property Group provides this information as a service to our community. This content is for informational purposes only and should not be considered an endorsement of any candidate or measure.
