[quote=Russell]I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.
Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.
I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.[/quote]
What I’m theoretically proposing would **help** the working poor own their own homes by eliminating many of the distortions caused by wealthy entities hoarding finite and highly desirable land. I think, theoretically speaking, there should be a cap on the amount of land that is controlled or owned by one entity/person. I do NOT generally believe in government subsidies for housing, because I believe affordability comes in the form of lower prices, not gimmicky rates/mortgages, or govt subsidies.
Yes, I am absolutely in favor of Prop 13 protection on a single primary residence only, with possible exemptions as noted above for multi-family and SFH rentals that comply with rent control laws — so the benefit filters down to the low-income tenant instead of a landlord’s profit.
