F California – I Sold My House…
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Destroying the middle class
Trying to make everyone poor and dependent on gov
Poor middle class grant.
It’ll start with California now all the US in the future
this guys is upper class lmao he’s the one destroying the middle class by belonging to the landlord class
1+ million dollar home is not middle class 😭😭
You’re almost right but governments just get stripped of their money too , its the billionaires
California only wants corporations to buy single-family property and rent it out.
The opposite would happen if incentives were low; companies like BlackRock would back out, in theory, of course. Sadly, in the meantime, the middle class suffers most as those big companies can move to other friendlier states, but I believe it’s necessary. If he sells his California properties and prices go down, more people should be able to afford moving in.
Then you have the other side of the coin, where developers don’t want to build houses for the middle. I guess we will see how this goes.
Graham buys property under an llc he is a corporation
@omarpereyra6255we already see where it goes. High prices, low supply. The evidence is right in front of you
@lithium25693 😂 don’t know the difference between an individual LLC and a corporation like black rock. The more expensive it gets to run a rental the more black rocks you have.
@cr3070 it should be illegal to rent a single family home. They should be for purchase for families only not corporations or llcs
Santa Monica only wants full time residency.
Naw, they just want people who can afford keep a $3,000,000 home vacant until they want to use it.
So rent control becomes do-not-rent-control
@mwatercresssame intentions
@Jako1987yup
California is like a statewide HOA on steroids that did meth and then controls the law and only edges off tax and power
They are actually pretty YIMBY now at the state level. It is the cities with the bizarre rent control and zoning laws.
That’s legit crazy
Good. Now people can own homes instead of having a bunch being rented out. Hopefully a bunch more renters sell their houses
If you can afford $3,000,000. Renting money and buying a home costs WAY MORE than renting the house.
It’s the vanguards and the state streets who will buy them ya goober
@alfonindatubeya, but having millions of Americans using housing as a get rich move is not right either. Eventually this bubble is gonna bust open. I got my 🍿
Tell me you’re out of touch without telling me you’re out of touch? You are a hilariously unsympathetic victim here. This be rich people problems. “Hey everyone, I know you just got your healthcare subsidies taken away and now your gonna have second rate services that’s still gonna bankrupt because your baby was born with a congenital heart disease, but this guy can’t rent a high rent house without giving the tenant rights! Why is he upset, cause he’s been culturally conditioned to think that tenants don’t own property rights( they do for the time they’re living there), and wants the state to enforce laws in his favor rather than theirs.
@cdog4100 And yet the result of that policy is that the home sat vacant during a housing shortage. Policies that create perverse negative incentive such as this have unnecessary devastating negative impacts. More people have died from socialist agriculture policies than nuclear weapons used in war. LA has a huge housing shortage of crisis proportions. Their response has been to tax the sale of properties that are $5,000,000+ to raise money to build affordable housing. They have raised fraction of what they predicted because they have designed an economic policy without understanding economics or human nature. They have also created a situation that has virtually shut down production of new apartment buildings during a housing shortage. This isn’t about feeling sorry for the guy who just turned a profit of hundreds of thousands of $$$$$$ by selling a home that he kept vacant during housing shortage in a logical response to a ludicrous landlord tenant law.
A friend of mine had a storage barn burn. It’s been a year of different code officers and what seems like an endless stream of changing rules and still nothing has been started.
LOL Move to Alabama or Missouri see how you like that
I lived in Los Angeles for years then moved to Alabama. It was the best decision I ever made. To each their own I guess.
These laws make sense if it also apply to any corporation or company- own property. If I live in the area I would prefer this. House is sold to primary residence first.
??
Good.
And that is exactly what they want
They want the people in Santa Monica to own homes, not rich investors outside of the city
How has this worked out for renters? Or even homeowners? What are the prices there like?
Dont you have to be rich to own a home there lol?
Avg. Home cost 1.9m-2m in Santa Monica
@dopeprolificexactly, they’re already rich
@allaansnackbar4269I think I misunderstood your initial comment, but, yea, its unfortunate. I was born and raised in Cali and moved to SC in 2022. Just couldnt afford it and wanted to buy my first house and couldnt do it there 😢
Lmaooooo Cali
I think that’s awesome
It does not make sense to live in CA.
What if the idea is to discourage landlords and promote homeownership?
Do people not understand the perks of renting? You don’t need to worry about an unexpected massive expense. If someone is renting and the need a new roof they are fine. If they are the landlord in the same financial spot they are screwed.
@shinobistream1256 that’s what homeowners insurance is for and as homeowners most people learn how to fix things themselves. Still doesn’t equal out the expense of paying rent, literally pissing money away. How is this even an argument? renting will always be more expensive than owning a house
@talluithat is not true. Your starter home will be an older home. The more you use homeowner insurance the more it costs. When you rent. Rent and renter insurance are a fixed rate you pay. When you own its taxes+homeowner insurance+unexpected repairs.
@shinobistream1256bro when I bought my house my mortgage was $500 less then my rent. This home has appreciated since iv been here and now have equity….. ownership is always better. And i managed 100 plus units for years. High rent for aging properties that always have problems. No thank you
Sounds surreal
California is a total dystopia.
It’s truly terrible there. As bad as the rent control is today, it was even worse 30 years ago. Back then, even when the tenancy turned over you still could not bring the rents to current market. CPI cap got passed on to the new tenant.
This is actually good for home ownership… and yes it’s bad for investor landlords
Yea…. Go ahead n go. We do not want complainers!