WMTW interviews Hobbs about the Portland rent control rollback

WMTW News interviewed Dr. Kelsi Hobbs, an Assistant Professor in UMaine’s School of Economics and housing expert, about the Portland rent control rollback referendum on Monday, June 12th. When asked about the impacts of rent control policies, she said “Renters that are living in rent-controlled units, we’ve definitely seen in the literature that they are benefiting from that lower rent, but on the flip side, landlords are less inclined to want to rent at that level.” Dr. Hobbs shared several key economics and policy insights about the potential impacts of the Portland rent control rollback, including noting that the rollback would likely result in higher rents and incentivize some landlords to add units to the rental market. On Tuesday, Portland voters rejected the rent control rollback proposal; 67% of voters opposed the rent control rollback which would have removed Portland’s 2020 policy that limits rent increases on a unit to 5% after a tenant leaves the unit voluntarily.

To access the online article and video interview with Hobbs, click here.

To learn more about Dr. Kelsi Hobbs, click here.