The $1 plan

[wannabe2077]

I know a couple of IT guys who just plan to do it

[CA renter]

Submitted by Raybyrnes…

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.
—————-

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.

[CA renter]

Submitted by Raybyrnes…

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.
—————-

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.

[CA renter]

Submitted by Raybyrnes…

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.
—————-

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.

[CA renter]

Submitted by Raybyrnes…

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.
—————-

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.

[CA renter]

Submitted by Raybyrnes…

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.
—————-

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.

[KCTxr]

Absolutely, Punt Prop 13 except for primary residence.

[KCTxr]

Absolutely, Punt Prop 13 except for primary residence.

[KCTxr]

Absolutely, Punt Prop 13 except for primary residence.

[KCTxr]

Absolutely, Punt Prop 13 except for primary residence.

[KCTxr]

Absolutely, Punt Prop 13 except for primary residence.

[Navydoc]

I think the potentially greatest flaw in your proposal is the huge discrepancy between what most people are actually able to afford, using traditional lending guidelines, compared to what they bought. During the bubble borrowing 10x or more of your actual income was common. I know of many people making a combined family income of $100,000 that bought million+ dollar homes. I don’t think the banks are going to be willing to sell those houses for $300,001. If so, sign me right up!

This is why I can’t stand the current political rhetoric going around about stopping home depreciation. We NEED affordability back, and dammit we’re going to get it!

[Navydoc]

I think the potentially greatest flaw in your proposal is the huge discrepancy between what most people are actually able to afford, using traditional lending guidelines, compared to what they bought. During the bubble borrowing 10x or more of your actual income was common. I know of many people making a combined family income of $100,000 that bought million+ dollar homes. I don’t think the banks are going to be willing to sell those houses for $300,001. If so, sign me right up!

This is why I can’t stand the current political rhetoric going around about stopping home depreciation. We NEED affordability back, and dammit we’re going to get it!

[Navydoc]

I think the potentially greatest flaw in your proposal is the huge discrepancy between what most people are actually able to afford, using traditional lending guidelines, compared to what they bought. During the bubble borrowing 10x or more of your actual income was common. I know of many people making a combined family income of $100,000 that bought million+ dollar homes. I don’t think the banks are going to be willing to sell those houses for $300,001. If so, sign me right up!

This is why I can’t stand the current political rhetoric going around about stopping home depreciation. We NEED affordability back, and dammit we’re going to get it!

[Navydoc]

I think the potentially greatest flaw in your proposal is the huge discrepancy between what most people are actually able to afford, using traditional lending guidelines, compared to what they bought. During the bubble borrowing 10x or more of your actual income was common. I know of many people making a combined family income of $100,000 that bought million+ dollar homes. I don’t think the banks are going to be willing to sell those houses for $300,001. If so, sign me right up!

This is why I can’t stand the current political rhetoric going around about stopping home depreciation. We NEED affordability back, and dammit we’re going to get it!

[Author]

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