NEW MEXICO (KRQE) – Albuquerque city councilors voted against asking state legislatures to allow rent controls Monday night. This comes after a huge turnout and more than two hours of public comment.
Right now, state law prohibits local governments from enacting rent controls. Advocates, including the ‘People’s Housing Project’ are pushing to change that, saying recent rent spikes highlight the need to protect low and middle income residents. Property owners and developers argue a better solution is to encourage more home building. They say cutting into their bottom line will ultimately hurt tenants as well.
Councilor Tammy Fiebelkorn says she was hoping this would be the start of a conversation about what rent control could look like in Albuquerque. The proposal failed with a vote of seven to two.