agreed with what president legagne laid out. i want to take issue with one point, though, just dispelling the notion that there is some kind of constitutional barrier to government intervening on the rents. and this is, unfortunately, a longstanding -- frankly talking point of the real estate industry that has seeped its way into our collective -- they've been very successful in saying, no, you can't touch rents because of the constitution. the reality is we've seen the same thing on the residential side. i'm very familiar with that. i've litigated many cases on this for a long time. the court refused to accept that argument. and actually on the residential side said no under the police powers, the city in certain circumstances, crisis of unaffordability for example, have the right to have rent control. in fear that the same thing would happen to protect commercial landlords, the real estate industry led by the california association of realtors, passed a state law to preempt cities from regulating rents in any way. that is our

agreed with what president legagne laid out. i want to take issue with one point, though, just dispelling the notion that there is some kind of constitutional barrier to government intervening on the rents. and this is, unfortunately, a longstanding -- frankly talking point of the real estate industry that has seeped its way into our collective -- they've been very successful in saying, no, you can't touch rents because of the constitution. the reality is we've seen the same thing on the residential side. i'm very familiar with that. i've litigated many cases on this for a long time. the court refused to accept that argument. and actually on the residential side said no under the police powers, the city in certain circumstances, crisis of unaffordability for example, have the right to have rent control. in fear that the same thing would happen to protect commercial landlords, the real estate industry led by the california association of realtors, passed a state law to preempt cities from regulating rents in any way. that is our

agreed with what president legagne laid out. i want to take issue with one point, though, just dispelling the notion that there is some kind of constitutional barrier to government intervening on the rents. and this is, unfortunately, a longstanding -- frankly talking point of the real estate industry that has seeped its way into our collective -- they've been very successful in saying, no, you can't touch rents because of the constitution. the reality is we've seen the same thing on the residential side. i'm very familiar with that. i've litigated many cases on this for a long time. the court refused to accept that argument. and actually on the residential side said no under the police powers, the city in certain circumstances, crisis of unaffordability for example, have the right to have rent control. in fear that the same thing would happen to protect commercial landlords, the real estate industry led by the california association of realtors, passed a state law to preempt cities from regulating rents in any way. that is our