How about helping the more prudent renter by providing us with a write off on the first 2000 of rent a month . This puts more money back in a renters pocket and allows that family to save at a faster pace to be able to then become a prudent buyer.
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LOVE this idea! 🙂
If they really want more “poor” people to own homes and help us with our state deficits, they could repeal Prop 13 protections for second homes and investment properties (except apartments and multi-family dwellings).
I strongly support Prop 13 for primary residences, but allowing property taxes to float with the housing market would put more inventory on the market when prices are high (because prop tax would become too expensive for landlords), and would keep them off the market/be neutral at the bottom of the RE cycles. This would help stabilize the wild swings in housing prices, and keep investors out at exactly the times they cause the most damage.
