Rent control won't help market

Democratic Gov. Bob Ferguson signed rent control into law last week and the law took effect immediately.

House Bill 1217 had an emergency clause on the legislation, so there is no ability for the public to weigh in with a referendum or initiative.

The bill 1217 caps rent increases at 7% plus the Consumer Price Index or 10%, whichever is less. Along with the caps, there are new penalties, notification requirements and restrictions on property owners.

The effect of the legislation will be higher rents and less properties on the rental market.

In every market where rent control has been introduce...