Opinion: California bill aimed at house flipping misses its target [Opinion]
” : Chris Ward’s bill to slow housing speculation by levying heavy taxes on homes resold within three years is well-intentioned but off target.
I note that real estate speculators tend to buy, fix up and resell within a few weeks to months rather than years. I have owned several homes as an adult, and some were sold sooner than we expected due to sudden changes in family or job circumstances. Should I be penalized for that? In my community of mobile homes, I have seen several units sold, refreshed and resold within two to three months. That is what is pushing affordable housing out of reach.Advertisement
I suggest you focus on the short-term house flippers rather than people who actually live in homes even for short periods.
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