Oregon set to become first state with mandatory rent controls to address skyrocketing housing costs

Oregon could be the first state to impose mandatory rent control laws as it faces rising housing costs. 

The bill is headed to the state House floor after it was approved by the House Committee On Human Services and Housing on Wednesday, according to The Oregonian

The bill would prohibit annual rent increases of more than 7 percent plus inflation. It would also prohibit landlords from evicting tenants without cause after 12 months of residency.   

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Democrats, including the state's governor Kate Brown, support of the bill.

"I look forward to signing the bill,” she told reporters, according to the Associated Press.

The bill would become law if Brown signed it. But Republicans wanted to enter a clause to delay it from going into effect until 2020. 

Skyrocketing housing prices have been plaguing the West Coast, including Oregon,  and contributing to high rates of homelessness.