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Started By
Message
re: On Feb 13th Santa Monica is voting on a proposal that could change housing in CA forever
Posted on 2/12/24 at 10:02 am to Chucktown_Badger
Posted on 2/12/24 at 10:02 am to Chucktown_Badger
quote:
I can't tell if they're too stupid to realize that the "solutions" they're implementing actually make the problem worse, if if they know that and it's intentional...basically the wolf in sheep's clothing.
Your average California leftist voter is that stupid, or more like that indoctrinated. Those in power though are not that stupid. They know what they’re doing.
Posted on 2/12/24 at 10:04 am to stout
This just means that people will not rent out properties in that jurisdiction.
Posted on 2/12/24 at 10:04 am to stout
I don’t see how that can stand up to legal challenge.
Posted on 2/12/24 at 10:06 am to stout
One of the most disgusting things leftists do besides promotion of abortion is vilification of landlords. They preach that landlords are evil and nobody should be able to own multiple properties. This proposal is a step towards that. They want to destroy rental market and force landlords to sell properties at a loss because they end up underwater on mortgage and taxes. They want to bankrupt a lot of honest people just for trying to improve their outlook with secondary income
“You will own nothing”
“You will own nothing”
This post was edited on 2/12/24 at 10:13 am
Posted on 2/12/24 at 10:09 am to Darth_Vader
A side note to all the other Cali stupidity is they list the max annual increases. If you hit them then thats bad. So, since landlords know the max limits they will increase them every year by about $10 less than max.
Regardless the economy, knowing you can’t raise them enough during bad inflation just means you will raise them every year (by just less than max) no matter what. A Landlord will have to do this to protect from unknown future economy.
Regardless the economy, knowing you can’t raise them enough during bad inflation just means you will raise them every year (by just less than max) no matter what. A Landlord will have to do this to protect from unknown future economy.
Posted on 2/12/24 at 10:16 am to NPComb
quote:
Nope when you can’t afford to rent it out because you don’t have the capital or the attorneys to fight it, don’t worry. Blackrock/Vanguard will swoop right in and snag it.
Their margins and projected margins on rentals will be materially impacted as well. And they'll have to deal with the headaches too at a local level. I could see this having the opposite effect and there just being no real mass of rental properties at all. And it leading to more availability of housing to purchase.
Posted on 2/12/24 at 10:19 am to jbird7
quote:they have the 6th highest gdp in the world. Without California and New York, the south doesn't exist.
A state thats $145b in debt isn’t paying anyone’s bills
Posted on 2/12/24 at 10:47 am to Swiss Alps
quote:
they have the 6th highest gdp in the world. Without California and New York, the south doesn't exist.
And with all that GDP they still can’t even pay their own bills, due to their reckless policies. Yet I’m supposed to believe they’re picking up everyone else’s tabs?
I bet you think strippers like you too.
This post was edited on 2/12/24 at 10:52 am
Posted on 2/12/24 at 10:55 am to CatfishJohn
quote:
Their margins and projected margins on rentals will be materially impacted as well. And they'll have to deal with the headaches too at a local level. I could see this having the opposite effect and there just being no real mass of rental properties at all. And it leading to more availability of housing to purchase.
Agree with all you said except the last sentence. The cost gap from renting to owning is really huge in Cali. And if higher rents drive renters to try and buy that just increases demands for houses and will push house costs higher.
There is no good outcome to this bill, other than Dems are getting what they voted for.
Posted on 2/12/24 at 11:02 am to OU Guy
From Redfin:
Santa Monica, CA Housing Market
Homes for sale
The Santa Monica housing market is somewhat competitive. Homes in Santa Monica receive 2 offers on average and sell in around 60 days. The median sale price of a home in Santa Monica was $2.0M last month, up 29.9% since last year. The median sale price per square foot in Santa Monica is $1.06K, up 2.6% since last year.
Santa Monica Housing Market Trends
What is the housing market like in Santa Monica today?
In December 2023, Santa Monica home prices were up 29.9% compared to last year, selling for a median price of $2.0M. On average, homes in Santa Monica sell after 60 days on the market compared to 47 days last year. There were 28 homes sold in December this year, down from 40 last year.
——-
And this from Rentcafe site:
Santa Monica, CA Rental Market Trends
What is the average rent in Santa Monica?
The average rent for an apartment in Santa Monica is $3,956. The cost of rent varies depending on several factors, including location, size, and quality.
Last updated November 2023
What is the average apartment size in Santa Monica?
The average size for a Santa Monica, CA apartment is 769 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Santa Monica, CA Occupied Housing Units
33,344 or 71% of the households in Santa Monica, CA are renter-occupied while 13,320 or 29% are owner-occupied.
Santa Monica, CA Housing Market
Homes for sale
The Santa Monica housing market is somewhat competitive. Homes in Santa Monica receive 2 offers on average and sell in around 60 days. The median sale price of a home in Santa Monica was $2.0M last month, up 29.9% since last year. The median sale price per square foot in Santa Monica is $1.06K, up 2.6% since last year.
Santa Monica Housing Market Trends
What is the housing market like in Santa Monica today?
In December 2023, Santa Monica home prices were up 29.9% compared to last year, selling for a median price of $2.0M. On average, homes in Santa Monica sell after 60 days on the market compared to 47 days last year. There were 28 homes sold in December this year, down from 40 last year.
——-
And this from Rentcafe site:
Santa Monica, CA Rental Market Trends
What is the average rent in Santa Monica?
The average rent for an apartment in Santa Monica is $3,956. The cost of rent varies depending on several factors, including location, size, and quality.
Last updated November 2023
What is the average apartment size in Santa Monica?
The average size for a Santa Monica, CA apartment is 769 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Santa Monica, CA Occupied Housing Units
33,344 or 71% of the households in Santa Monica, CA are renter-occupied while 13,320 or 29% are owner-occupied.
Posted on 2/12/24 at 11:07 am to OU Guy
I just think a lot of rental properties will hit the market as margins decrease and headache increases. Direction of prices on those properties are hard to predict.
Posted on 2/12/24 at 11:13 am to stout
Private property rights are the least respected rights in modern America.
Posted on 2/12/24 at 11:17 am to stout
I hope they do it. You have to let them sink to the bottom before they realize they are wrong. Like these sanctuary cities now being forced to ask Biden to close the border because it’s killing by their city.
Posted on 2/12/24 at 11:21 am to Upperdecker
quote:
One of the most disgusting things leftists do besides promotion of abortion is vilification of landlords.
You have to realize these people are marxists. they have infiltrated everything.
The goal is to get rid of private property.
Posted on 2/12/24 at 11:25 am to SoFla Tideroller
Individuals that own rental units are generally pretty good taxpayers. If you bully their pockets, they eventually sell, move out of the state, and you have nothing left but those feckless, perennially holding their hands out for more people.
Posted on 2/12/24 at 12:00 pm to Hangit
Yep, in five years that city will be crying about the lack of rental units available. The same type dipshits that created a housing mess in NYC with rent control dreamed up this bullshite.
If Democrats started a program to grow crabgrass, there wouldn't be a single blade of it in a farmer's field anywhere in America within a decade.
If Democrats started a program to grow crabgrass, there wouldn't be a single blade of it in a farmer's field anywhere in America within a decade.
Posted on 2/12/24 at 12:32 pm to stout
Apparently, the city attorney is unfamiliar with the 5th Amendment and the idea of a constructive taking
Posted on 2/12/24 at 12:37 pm to stout
They gonna repeal the 5 foot fence law for pools?
Posted on 2/12/24 at 12:39 pm to stout
This is how you create a ghost town. Good job libtards.
Posted on 2/12/24 at 1:00 pm to stout
Rent control was used to wipe out the middle class in Germany following WWI.
John Adams was right.
John Adams was right.
This post was edited on 2/13/24 at 5:05 am
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