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July 16, 2018 at 1:31 PM in reply to: San Diego homeowners, tell the Mayor and your councilman to oppose the vacation rental law #810397SoCalBakermanParticipant
Since the value of your property is solely based on the government restrictions, then it follows that the government can tell you what you can do to your property.
We don’t let people open machine shops in residential neighborhoods because that would be a nuisance and diminish the value of everyones property next to it.
Since land is a scarce commodity unless you know how create more of it, then it should be regulated very highly and should not be viewed as any other productive item like machines or the internet or even the stock market.
SoCalBakermanParticipantI agree that based on average income to SFH price, their is no correlation. Most people that I know that got into house in an expensive neighborhood are people where family helped out or parents died or grandparents died or something.
San Diego now, not before the 80s, is a victim of outside money raising housing costs. Uber rich guy from China or New York overpays for a house in RSF or La Jolla, Doctor gets priced our and moves Encinitas, Engineer gets priced out and moves to Rancho Bernardo or Carlsbad, which prices out Policeman or Fire Fight which moves to Temecula.
Temecula has single handedly saved San Diego from a major labor shortage. I really wished the government would keep statistics on foreign purchases of real estate and mortgage vs non mortgage properties, so you can really see the true picture of housing.
Because if you 10,000 houses that are 2,000,000 each but don’t have a mortgage you can’t say we have a housing affordability issue.
SoCalBakermanParticipantI live in Escondido, and you cant swing a dead cat without hitting a construction worker with a lifted truck and a Glamis sticker, so just from observations I really don’t see a labor shortage, as for land use restrictions I agree but only that it is hard to build large housing tracks, infill not so much.
Also, you could build the houses off site in a factory and just truck them in, just look at Blu Homes, they make great looking prefab houses better than most of that Temecula track stuff.
Lastly, I am shocked that Row homes are not making a come back, they built some in downtown Escondido and look great and sold pretty fast, and you don’t have that Apartment/ Condo problem like the people stomping overhead or lack of parking.
SoCalBakermanParticipantNimbyism, is not the problem, the problem is that houses are investments now and it make perfect sense to protect your investment from decline.
Now if housing was really only about a place to live and maybe appreciated 2-3 percent a year, then I would call it Nimbyism, but you don’t tell people to leverage them selves up 6-10x because some day they will have a payoff and not expect them to fight to protect their investments.
People would freak out if the government would tax 401k’s or IRA’s, even if we would be better off using the tax money to balance the budget.
The developers and the city could mitigate the impact of density by paying the homeowners either a check or a reduction in property tax for the impact to their investment, then at least homeowners would benefit from development.
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