The landlords are currently locked in at charging about 2x or more of the mortgage cost. In my situation, I paid off 1/4 of their mortgage in one year and now they're kicking me out so they can liquidate the property and sell it to another landlord.
The upside to the flat tax for landlords is that they just get more profit to buy more homes for free. I think a flat tax is fine, but it needs to be limited to primary residences and not all residential property.
I'm also on the opposite side of the country and have never really looked into prop 13 so take my opinion of it with a grain of salt. I'm just showing how it's could be a handout to people who own multiple homes as "investments" while also being a good thing for poor homeowners who suddenly find themselves in a home worth 10x what they paid for it.
I think the attempt to repeal prop 13 without first fixing the 'residents' v 'investment' problem. Is putting the cart before the horse. And would adversely affect low income home owners/ renters.
The landlords are currently locked in at charging about 2x or more of the mortgage cost. In my situation, I paid off 1/4 of their mortgage in one year and now they're kicking me out so they can liquidate the property and sell it to another landlord.
The upside to the flat tax for landlords is that they just get more profit to buy more homes for free. I think a flat tax is fine, but it needs to be limited to primary residences and not all residential property.
I'm also on the opposite side of the country and have never really looked into prop 13 so take my opinion of it with a grain of salt. I'm just showing how it's could be a handout to people who own multiple homes as "investments" while also being a good thing for poor homeowners who suddenly find themselves in a home worth 10x what they paid for it.
I think the attempt to repeal prop 13 without first fixing the 'residents' v 'investment' problem. Is putting the cart before the horse. And would adversely affect low income home owners/ renters.
Agreed, repealing it is a bad idea, but as it stands it disproportionately helps landlords accumulate more property.