CA Renter:
Frankly, the average American “owner-tenant” has proven him/herself completely unworthy of homeownership in the last 10 or so years. (Yeah, as a landlord looking to buy more, I’m biased, so sue me.)
Besides, why are landlords any less worthy of making a profit than any other industry? They’re already being taxed on income — why should they endure a regressive additional tax as well?
And if the units revert to owner-occupancy, then the excess tax revenue would be lost anyway.
