“if the government deprives owners of their supposed state constitutional right to a fair return on their investment, fewer people will go into the business and even fewer will upgrade their properties. That helps no one.
The result is obvious: fewer available rentals and fewer rentals in tip-top condition. Investing in rental property has always been a prime means for middle-class people to build wealth. My grandfather was an immigrant paperhanger (remember wallpaper?) who invested in Philadelphia row houses decades ago. Now, I talk to many people who won’t dare buy a rental house out of the legitimate fear that the government can suspend rent payments at will.”