Are the Flippers Laying In Wait?

[CA renter]

When speculators/investors hoard a significant portion of the housing inventory and turn them into rentals, people are **forced** to rent from these people because they have essentially cornered the market. If the houses provide positive cash flow, then these renters would have been able to afford to buy these homes for their families.

I will try to find the statistics, but believe about 57% of California’s (or San Diego? can’t remember) population consists of renters. IMHO, this is largely due to the protection and subsidy LLs get from Prop 13. If a LL’s property taxes rose with prices, they’d be forced to put their properties on the market during bubbles (because many of these houses would no longer produce positive cash flow). This would help stabilize prices and help prevent the wild swings we see in housing prices.

Yes, I believe society is far better served if regular families were more “entitled” to own their own home rather than have the wealthy feel “entitled” to hoard precious inventory so that they can earn a profit at the expense of working families.

Obviously, that is a subjective belief, and I don’t expect everyone else to share it.

[an]

Also, if you like to talk about fairness, how is it fair for us young people who weren’t able to come into this world 60-70 years ago and be able to buy up those beach front property in Del Mar, La Jolla, etc. for dirt cheap and being able to keep there tax bases from such a low rate? There’s no more beach front land along San Diego’s coast anymore. We’d love to have the opportunity to buy those beach front property for dirt cheap too but it ain’t happened.

CAR, like SD R said, no one was forced to rent in Encinitas. They can buy in Mira Mesa. LL will NEVER be able to corner the market if the cost of new homes continue to be cheap. Builders will continue to build and renters who want to buy can continue to buy for a very reasonable priced. IF the government would let them build. Even with your entitlement view, cheap housing through over supply will always be better than any kind of subsidy the government can come up with.

[an]

Also, if you like to talk about fairness, how is it fair for us young people who weren’t able to come into this world 60-70 years ago and be able to buy up those beach front property in Del Mar, La Jolla, etc. for dirt cheap and being able to keep there tax bases from such a low rate? There’s no more beach front land along San Diego’s coast anymore. We’d love to have the opportunity to buy those beach front property for dirt cheap too but it ain’t happened.

CAR, like SD R said, no one was forced to rent in Encinitas. They can buy in Mira Mesa. LL will NEVER be able to corner the market if the cost of new homes continue to be cheap. Builders will continue to build and renters who want to buy can continue to buy for a very reasonable priced. IF the government would let them build. Even with your entitlement view, cheap housing through over supply will always be better than any kind of subsidy the government can come up with.

[an]

Also, if you like to talk about fairness, how is it fair for us young people who weren’t able to come into this world 60-70 years ago and be able to buy up those beach front property in Del Mar, La Jolla, etc. for dirt cheap and being able to keep there tax bases from such a low rate? There’s no more beach front land along San Diego’s coast anymore. We’d love to have the opportunity to buy those beach front property for dirt cheap too but it ain’t happened.

CAR, like SD R said, no one was forced to rent in Encinitas. They can buy in Mira Mesa. LL will NEVER be able to corner the market if the cost of new homes continue to be cheap. Builders will continue to build and renters who want to buy can continue to buy for a very reasonable priced. IF the government would let them build. Even with your entitlement view, cheap housing through over supply will always be better than any kind of subsidy the government can come up with.

[an]

Also, if you like to talk about fairness, how is it fair for us young people who weren’t able to come into this world 60-70 years ago and be able to buy up those beach front property in Del Mar, La Jolla, etc. for dirt cheap and being able to keep there tax bases from such a low rate? There’s no more beach front land along San Diego’s coast anymore. We’d love to have the opportunity to buy those beach front property for dirt cheap too but it ain’t happened.

CAR, like SD R said, no one was forced to rent in Encinitas. They can buy in Mira Mesa. LL will NEVER be able to corner the market if the cost of new homes continue to be cheap. Builders will continue to build and renters who want to buy can continue to buy for a very reasonable priced. IF the government would let them build. Even with your entitlement view, cheap housing through over supply will always be better than any kind of subsidy the government can come up with.

[an]

Also, if you like to talk about fairness, how is it fair for us young people who weren’t able to come into this world 60-70 years ago and be able to buy up those beach front property in Del Mar, La Jolla, etc. for dirt cheap and being able to keep there tax bases from such a low rate? There’s no more beach front land along San Diego’s coast anymore. We’d love to have the opportunity to buy those beach front property for dirt cheap too but it ain’t happened.

CAR, like SD R said, no one was forced to rent in Encinitas. They can buy in Mira Mesa. LL will NEVER be able to corner the market if the cost of new homes continue to be cheap. Builders will continue to build and renters who want to buy can continue to buy for a very reasonable priced. IF the government would let them build. Even with your entitlement view, cheap housing through over supply will always be better than any kind of subsidy the government can come up with.

[CA renter]

Don’t worry, AN. Have you ever hung out around La Jolla, Del Mar, etc.? Lots of very elderly people…pent-up supply! 😉

Thanks for the good conversation, all. Hope you have a good night!

[CA renter]

Don’t worry, AN. Have you ever hung out around La Jolla, Del Mar, etc.? Lots of very elderly people…pent-up supply! 😉

Thanks for the good conversation, all. Hope you have a good night!

[CA renter]

Don’t worry, AN. Have you ever hung out around La Jolla, Del Mar, etc.? Lots of very elderly people…pent-up supply! 😉

Thanks for the good conversation, all. Hope you have a good night!

[CA renter]

Don’t worry, AN. Have you ever hung out around La Jolla, Del Mar, etc.? Lots of very elderly people…pent-up supply! 😉

Thanks for the good conversation, all. Hope you have a good night!

[CA renter]

Don’t worry, AN. Have you ever hung out around La Jolla, Del Mar, etc.? Lots of very elderly people…pent-up supply! 😉

Thanks for the good conversation, all. Hope you have a good night!

[an]

Thanks to Prop 13, those elderly will be able to pass on their properties to their kids along with the tax bases too. Yay for prop 13 :-).

[an]

Thanks to Prop 13, those elderly will be able to pass on their properties to their kids along with the tax bases too. Yay for prop 13 :-).

[an]

Thanks to Prop 13, those elderly will be able to pass on their properties to their kids along with the tax bases too. Yay for prop 13 :-).

[an]

Thanks to Prop 13, those elderly will be able to pass on their properties to their kids along with the tax bases too. Yay for prop 13 :-).

[Author]

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