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re: On Feb 13th Santa Monica is voting on a proposal that could change housing in CA forever
Posted on 2/12/24 at 10:16 am to NPComb
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.
1
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.
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