California Just Changed REAL Estate Forever (New INSANE Laws)

California Just Changed REAL Estate Forever (New INSANE Laws)
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Sources:
1. https://therealdeal.com/la/2022/09/29/newsom-signs-flurry-of-housing-bills/

California is a beautiful place, especially places like Los Angeles and San Francisco, well at one time that statement is true. Now those areas are riddled with crime and poverty. We are witnessing the entire state going through a really challenging affordability crisis and housing shortage. This situation will make things very tough for many people. However now California is going full force with some pretty insane new laws to increase housing density overnight by roughly 18% in the course of the next eight years.

They intent to add over 2,500,000 homes in the course of the next seven years. This will greatly change the real estate landscape, rental rates, property taxes and all things California. I believe to fund this type of project they will need to increase taxes and make things even more challenging for business owners, investors, landlords and investors that are supporting the state.

What are your thoughts about investing in residential property, commercial property or warehouses in the state of California? What investments will do well and which will struggle?

Is California out of control?

#realestate #california #losangeles

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40 Comments

  1. Those have been going on for the last few years. It’s just now becoming state wide. California housing problem is a supply issue and this should help out a bit more. The problem for regular people is that whenever some developer converts these units (that’s if available) or build new ones, mostly it is expensive. All they have to do is dedicate 10% of the unit for low income. Low income in San Diego is a family of four who makes below $10700. That number will go up more soon.
    Here in San Diego they changed the rules for anyone to build high density apartments. Supply went up, but surprisingly those new units even became a lot more expensive. Just before the pandemic, I put in a 500 sq.ft ADU for a mere $50000 in one of my suburban unit and that has been bringing in 2000. It has already returned ROI. The only regret is I didn’t build it big enough. Remember, ADUs have to match the primary residence aesthetically and you still have to meet the land size requirements. The removal of DIF was huge. Was hoping home prices to go down to 2018 level, but it might not happen looking in to the homes still are closing. +35% from pick t was anticipating.

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  3. CA is insane top to bottom. Makes you wonder how long it will be until a few hundred thousand CA taxpayers roll into Sacramento with "axes and sickles" and sanitize the entire place.

  4. The good news is this country will be almost fully depopulated by 2030, so I wouldn't worry about all these laws going into effect in 2030 or beyond. They don't intend on any of us being here

  5. We have to stop the weather manipulation and water wasting or this is just a pipe dream. I have no faith in anything Newsom does, it's just to make himself look better and payback his donars. We will see how it turns out. The devil's in the details. The fact that they also just passed a law saying the new starts near public transit can bypass creating 2 parking spaces for units, sounds like they may make the parking problem worse too in some areas. Glad you are ok in Florida.

  6. This doesn't seem like a win for anyone. I bet they'll have free needle programs and injection centers in these units. Progressive politics continue to lead the state to ruins.

  7. THIS IS ALL PART OF A PLAN TO PUT EVERBODY IN APARTMENTS SO THEY HAVE TO PAY.
    YOU WILL HAVE NO FINANCIAL FREEDOM FROM THE GOVERNMENT.
    YOU DON'T COMPLY…..THEY CUT YOU OFF.

  8. FACTS!!!!!
    THIS IS EXACTLY WHAT CHINA DID FOR THE LAST 20-25 YEARS. THEY BUILT OVER 1,000 CITIES LARGER THAN NEW YORK AND LA PUT TOGETHER!
    MADE EVERYONE GO TO WORK TO LIVE THERE, AND IF YOU DONT WORK, THEY JUST KILL YOU.
    FACTS!!!

  9. people living in high rise old office buildings are much easier to control and keep inside if the govt wishes…just ask the residents in Shanghai.

  10. Brilliant analysis of the different things to watch for on the different time frames. Good to see everyone feels the same way when they lose money, everyone thinks they could do this or that with that money which is as good as gone, instead people refuse to seek help from professionals, Edward Joseph James set to be different and unique, I made about $470k already from his day tradng, all i did was to copy his daily signals, am done having heart breaks hodling and trading myself lol.

  11. It seems like all this is part of you will own nothing and be happy plan. The government is stripping away ownership little by little. This is like a bad movie playing in real life.

  12. If landlords, established home owners and real estate investors weren't so zealous about new housing development in the face of a constantly growing homeless population and housing crises, maybe the government would not be compelled to take these measures. Something had to give. Maybe try diversifyng in assets

  13. Those units Newsom is wanting will be similar to China's high rise empty buildings, only they will be 5 stories with 600 s.f. units.
    I'm working on similar project in City of Bell, Ca., 270 600 s.f units for seniors.

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