Protect Home Ownership VOTE – Prop 5 YES, Prop 10 NO
I wanted to urge you to vote this Tuesday. YES on 5 and NO on 10. Home Ownership
As you know, C.A.R. is asking REALTORS® to vote YES on Proposition 5, C.A.R.’s own Tax Fairness Initiative, which allows seniors, the disabled and victims of natural disaster to transfer some of their property tax basis, or savings, to the purchase of a new home. Prop 5 allows seniors and the disabled, who are often on fixed incomes, the flexibility to purchase a home that better suits their needs and to still be able to afford to move. It also creates homeownership opportunities for young families who have not been able to purchase their first homes due to a lack of inventory.
C.A.R. is also OPPOSING Proposition 10. Prop 10 would allow for the dramatic expansion of rent control. It would repeal the Costa-Hawkins Rental Housing Act, which limited the types of properties local governments could subject to rent control and allowed a unit’s rent to be reset to market rate when it became voluntarily available. Prop 10 will allow local governments to impose rent control on new construction and single-family homes and will allow them to restrict rents even when a unit is voluntarily vacated. This will have a chilling effect on housing creation and limits what families can do with their own homes.
Please consider voting YES on Prop 5 and NO on Prop 10 on November 6th. For more information about these two initiatives please visit on.car.org/memberprop5prop10toolkit or contact C.A.R. at prop5@car.org.
As you know, C.A.R. is asking REALTORS® to vote YES on Proposition 5, C.A.R.’s own Tax Fairness Initiative, which allows seniors, the disabled and victims of natural disaster to transfer some of their property tax basis, or savings, to the purchase of a new home. Prop 5 allows seniors and the disabled, who are often on fixed incomes, the flexibility to purchase a home that better suits their needs and to still be able to afford to move. It also creates homeownership opportunities for young families who have not been able to purchase their first homes due to a lack of inventory.
C.A.R. is also OPPOSING Proposition 10. Prop 10 would allow for the dramatic expansion of rent control. It would repeal the Costa-Hawkins Rental Housing Act, which limited the types of properties local governments could subject to rent control and allowed a unit’s rent to be reset to market rate when it became voluntarily available. Prop 10 will allow local governments to impose rent control on new construction and single-family homes and will allow them to restrict rents even when a unit is voluntarily vacated. This will have a chilling effect on housing creation and limits what families can do with their own homes.
Please consider voting YES on Prop 5 and NO on Prop 10 on November 6th. For more information about these two initiatives please visit on.car.org/memberprop5prop10toolkit or contact C.A.R. at prop5@car.org.
Thank You, Enjoy Your Weekend
