> However, by subsidizing a majority of the rent, the low income people will live there. The buildings are cheap to buy, are not maintained, boom, lots of profi

> However, by subsidizing a majority of the rent, the low income people will live there. The buildings are cheap to buy, are not maintained, boom, lots of profit for the landlords. Also the tax laws of CA in particular actively discourage you from improving properties. Rent growth is effectively capped whereas property tax growth (a percentage of property price) is only capped as long as you do not perform major renovations. That combination incentivizes renters to remain fixed ("I'll lose my years of rent control!") and property owners to do the bare minimum ("Why should I improve the property if it'll cost me more taxes and I can't charge more?").