San Diego Housing Market News and Analysis
rid the Mello-Roos by legislation--a win-win idea to stimulate housing and general economy?
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Submitted by nocommonsense on October 28, 2009 - 7:48am
Having the government take up the financial responsibility of the Mello-Roos seems like a win-win solution for everyone.
1). First of all, that's the way it should be--nowhere else are homeowners asked to pay for these expenses (school, etc);
2). This immediately reduces the "actual" price of the house by ~10-20%, making it more affordable, hence driving up sales stimulating the housing market;
3). It reduces the financial burden of homeowners, puts more money in their pocket, stimulates consumer spending;
4). The increased tax revenue from the increased consumer spending more than makes up for the government's Mello-Roos spending.
I'd think this proposal will have broard support from homeowners, buyers, builders, AND realtors. Some of us ought to figure out a way to put this initiative on the ballot.
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