California May Have More Homes Too Eliminate Some of The Stress On Our Tight Market
A California ballot initiative is on track for the November voting, if approved it could add a good number of homes to California’s ridiculously tight housing market (year of year availability is down 4.0% from last year, and 8.0% from 2013-2017). The California Association of Realtors®, has been heading up the initiative and have already collected nearly 1 million signatures to ensure that the proposal makes the Nov. 6 ballot.
The Property Tax Fairness Initiative is designed to make it more affordable for homeowners who are aged 55 and older, disabled, or in natural disaster–ravaged communities to sell their current home and buy a new one within the state without being hit with higher property taxes. This should encourage older sellers to put their family homes on the market, many of which are larger than what they now need, which in turn would add new inventory and help ease our severe housing crisis.
DON’T FORGET TO VOTE IN NOVEMBER!