Your editorial on Propositions 98 and 99 ("No on 98; Yes on 99," May 15, Page B-6) was short on facts and long on socialist doggerel. Rent control is nothing more than welfare for renters. Landlords must compete for qualified tenants. To do this, they price their properties based on market conditions. Every year taxes and insurance increase. Even a property with no mortgage and a Proposition 13 tax structure will likely return no more than 5 percent on investment. In recent years, landlords have watched value in their properties fall by as much as 40 percent.
Because a financial conglomerate bought one of our local trailer parks and raised the rents, you have resorted to the usual hypocritical name-calling and scare tactics. You also seem to have ignored the fact that gouging senior citizens is a national pastime. My father died in 2006 at 99. Six months after his death I was still paying his taxes as the federal government and the state reached into his grave for one last contribution for bogus entitlements, waste, corruption and a broken state budget that is a legacy of the Democratic-controlled Legislature as they service that portion of society that contributes nothing to the greater good.