alt Hacker NewsThis bill is going to result in massive redistribution of wealth from the bottom to the top 0.1%. It’ll blow up middle class SFH neighborhoods where people own their homes and replace them with forever rentals owned by developers that’ll jack up rents every year. You will own nothing and be happy. Now get in line to be milked by the system!
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Those SFH are already rentals, from small landlords that bought a second, then a third, then a fourth home.
The ship has already sailed on the redistribution, because 1) California created an artificial housing shortage from regulatory capture by home owners, and 2) condo defect law differs so much from SFH defect law that it's almost always insane to sell condos instead of renting apartments.
This is not the doing of SB 79, this was Boomers deciding to milk future generations and prevent them from having the same easy opportunity that they enjoyed.
lol we already own nothing suck it
What middle class SFHs? There are no middle class SFH neighborhoods remaining in Los Angeles or the Bay Area. Take a look at Zillow. Your average young person isn't buying anything anyways.
Your information is at least two decades, maybe three, out of date.
But this bill will help lower rents, which is a very worthy goal in and of itself.