What's your recommendation on the area

[Mawesome Sauce]

How do you make housing not profitable for non residents?

I do feel that primary resident homeowners should get a much larger property tax break than they currently do.

All non Californians should pay a higher property tax.

 

[CalBears96]

All non Californians should pay a higher property tax.

Agreed. Just like out of state college students.

 

[test]

I do feel that primary resident homeowners should get a much larger property tax break than they currently do.

The $7,000 homeowner exemption needs to be increased to $7,000,000.

 

[sleepy5136]

This is true but misleading. As with most divorce statistics, the same demographic contributes to most of the divorces. If your marriage is based a more solid relationship foundation leading up to it, the success rate is much better than the quick marriage out of wants.

This is also the argument why housing will fall for the next 10+ years as younger people are no longer getting married and having fewer kids at the same time older people pass away and are forced to sell off properties. The problem is government will bail them out because people demand their 3% mortgage properties be profitable. If we just made housing not profitable for non residents (like I’ve said for years here) this wouldn’t be a problem.

Anyways, if you want to get a house, given the trends of screw young people and their families, I would get something just like what you’re asking for and pick a place with lower tax and hoa since you don’t know how long you’re sitting on it given your situation.

I'm sure majority of couples that got divorced all thought the marriage was going to be successful initially

 

[sleepy5136]

How do you make housing not profitable for non residents?

I do feel that primary resident homeowners should get a much larger property tax break than they currently do.

If the issue is home affordability, lowering existing primary homeowners property taxes doesn't fix the affordability issue. We should instead tax the crap out of non-primary homeowners and have a more rigid enforcement on primary homeowners

 

[freedomcm]

The $7,000 homeowner exemption needs to be increased to $7,000,000.

just remove the prop13 protection from non-resident owners.

 

[vsfan]

How do you make housing not profitable for non residents?

I do feel that primary resident homeowners should get a much larger property tax break than they currently do.

it is the other way now, rental does have better tax write off than primary residence

 

[Mawesome Sauce]

just remove the prop13 protection from non-resident owners.

I’ve been saying this for years now on this board. Another way is to mandate a minimum additional tax on non residents. But O.C. and Irvine would lose their money laundering commissions

 

[momopi]

Foreign Buyer Tax in Canada | WOWA.ca

Foreign buyer tax is an additional tax imposed on foreign buyers when buying property in certain regions in addition to the standard land transfer tax.

wowa.ca

 

[CalBears96]

Foreign Buyer Tax in Canada | WOWA.ca

Foreign buyer tax is an additional tax imposed on foreign buyers when buying property in certain regions in addition to the standard land transfer tax.

wowa.ca

They have similar taxes in Malaysia and Singapore too. In Malaysia, the MoT (Memorandum of Transfer) is progressive for Malaysian citizens:
1% on first RM100,000
2% on RM100,001 to RM500,000
3% on RM500,001 to RM1,000,000
4% above RM1,000,000

For foreigners, it used to be 4% on the entire purchase price, but starting 2026, they raised it to 8%.

In Singapore, it's worse. Foreigners must pay a 60% Additional Buyer's Stamp Duty on property purchases. However, seems like citizens of Iceland, Liechtenstein, Norway, Switzerland, and the US are exempted from ABSD, for some reason.

 

[ThirtySomethingWEquity]

I’ve been saying this for years now on this board. Another way is to mandate a minimum additional tax on non residents. But O.C. and Irvine would lose their money laundering commissions

money laundering doesn't mind paying a bit of tax, they aren't looking to make a profit. It's just a lotta (land) speculators too that are abusing prop 13. There's a reason why Irvine Co can sit on giant empty lots for decades and slow roll building.

 

[momopi]

They have similar taxes in Malaysia and Singapore too. In Malaysia, the MoT (Memorandum of Transfer) is progressive for Malaysian citizens:
1% on first RM100,000
2% on RM100,001 to RM500,000
3% on RM500,001 to RM1,000,000
4% above RM1,000,000

For foreigners, it used to be 4% on the entire purchase price, but starting 2026, they raised it to 8%.

In Singapore, it's worse. Foreigners must pay a 60% Additional Buyer's Stamp Duty on property purchases. However, seems like citizens of Iceland, Liechtenstein, Norway, Switzerland, and the US are exempted from ABSD, for some reason.

For those unfamiliar, approx 30% of malaysian property projects are allocated to bumiputera (ethnic malay natives) quota with 5%-15% discount.

So if you're not an ethnic malay native, or foreign buyer, you're already paying a premium.

 

[YMMV]

For those unfamiliar, approx 30% of malaysian property projects are allocated to bumiputera (ethnic malay natives) quota with 5%-15% discount.

So if you're not an ethnic malay native, or foreign buyer, you're already paying a premium.

Similar in Cambodia and Laos.