Real Estate Round-Up: Vote on Nov. 6 for homeownership and property rights

On Nov. 6, we have the privilege and obligation to vote. It is your opportunity to speak your mind. There are two initiatives that I have previously written about, on the statewide ballot, that could dramatically affect housing opportunities, private property rights and the availability of affordable housing.

Prop 10, the so-called “Affordable Housing Act,” would make the housing crisis worse by repealing the long-standing Costa-Hawkins Rental Housing Act, eventually allowing local governments to impose draconian rent control measures.

Here’s why Californians should vote No on Prop 10: Prop 10 will reduce availability of affordable and middle-class housing.

Academic experts from the University of Southern California, U.C. Berkeley and Stanford agree that it would drive up rents, while discouraging new construction and reduce the availability of affordable and middle-class housing.

Prop 10 will cause homeowners to sell or convert rental properties into other more profitable uses, such as short-term vacation listing services like Airbnb. That would increase the cost of existing housing and make it even harder for renters to find affordable housing.

Prop 10 repeals protections homeowners have enjoyed for over 20 years, and lets the government dictate pricing for privately owned single-family homes, controlling how much homeowners can charge to rent out their home – or even just a room.

Prop 10 might even lead to bureaucrats imposing oppressive surcharges when an owner takes a home off the rental market and chooses to occupy it.

Prop 5 is an initiative that will allow seniors, the disabled and victims of natural disasters to move to a home better suited to their needs without facing drastically higher property taxes.

Here’s how it will work: Seniors often live in homes that no longer meet their needs because their homes may be too big or too far from family. If these homeowners want to downsize or move closer to their children, they could face a doubling or tripling of their property taxes, or what’s being called a moving penalty.

Prop 5 provides appropriate relief by allowing those eligible the ability to transfer their current property tax base to the purchase of another home in any of California’s 58 counties.

The new property tax for that individual would be based on their original home’s assessment, in addition to an adjustment consisting of the difference in value between the sale price of the original home and the sale price of the new home.

Prop 5 would provide respect to seniors (many on fixed incomes), the disabled and disaster victims by allowing them the flexibility to move to a more suitable home. Right now, too many feel locked in place. This will help boost the housing inventory in existing neighborhoods as older homeowners move from their single-family homes that no longer meet their needs and free up housing for the next generation.

I urge you to vote Yes on 5 and No on 10.

Kim Murphy can be reached at [email protected] or (760) 415-9292 or at 130 N Main Avenue, in Fallbrook. Her broker license is #01229921, and she is on the board of directors for the California Association of Realtors.