re: On Feb 13th Santa Monica is voting on a proposal that could change housing in CA forever

This just means that people will not rent out properties in that jurisdiction.

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”

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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.

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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.

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they have the 6th highest gdp in the world. Without California and New York, the south doesn't exist.

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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.

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.


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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.

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.

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.

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.

Apparently, the city attorney is unfamiliar with the 5th Amendment and the idea of a constructive taking

This is how you create a ghost town. Good job libtards.