Instead they will only serve to scare some people away from buying a house and living the miserable life of a renter.

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What's so miserable about renting in Del Mar when you can only afford to buy in Rancho Bernado? Or renting in La Costa when you can only afford to by in Clairemont?   Or renting a nice single family house when you can only afford a condo?   You can do that and still have money left over to put into savings!