LOS ANGELES — Landlords and tenants are reacting to the Supreme Court’s decision not to hear a case out of New York City that challenges rent stabilization laws, claiming the laws make it harder for landlords to raise rent, evict tenants or make a reasonable return on their investment.

If the case were heard, and the high court found rent control to be unconstitutional, the decision would have had a major impact in California and especially Los Angeles, where more than 70% of apartments are under a rent-control ordinance and there is a severe shortage in affordable housing.