@Aquabliss - looks like with your proposal on stock purchase restrictions I'll never be able to buy...
@Sleepy5136 - I don't know what your exposure is to the Homeless Population in California, but I'd welcome you to ride along with me and see it up close some time. PM me for details. The homeless problem is in fact a mental illness issue front and center. The secondary issue is high rent costs. Not everyone is owed the opportunity to own a home. They are owed shelter - in this case affordable rent - but a home? That's another story.
@USC. Amen. That said, a .1c to .5c individual stock transaction tax (buy or sell) would take care of most of the governments financing needs quickly - however I don't imagine seeing Satan making snowballs at home just yet.
Tax breaks tend to layer over the years similar to the way sedimentary rocks form, and at some point in time a jackhammer needs to be applied to them. If the Progressives really want to open up "affordable" housing, they have to make bold moves such as:
A) Eliminate 1031 exchange tax deferrals.
B) Eliminate real property depreciation for all 1-4 unit properties.
C) Restrict rent increase percentage to zero over CPI.
D) Highly tax all rental income over PITIHOA + 20% - 20% being a "reasonable profit"
There would be such a rush to the exits out of rental property ownership that all property values would decline rapidly. Inventory would pop higher and the sellers would no longer control the board. It's also "Green" (but not sustainable) since no new development would be needed to create more affordable homes. Tax policy changes would complete the task neatly.
Who cares if FNMA/FHLMC and Banks mortgage holdings would become significantly impacted? Who cares that Mom and Pop real estate owners are being targeted to pay "their fair share"? Who cares that corporate apartment investors wouldn't suffer but rather exponentially gain in value? No one seems to pay close attention to the law of unintended consequence as long as their feel good proposals continue to give off so much warm and fuzzy feels..... Yet this is likely the direction we are eventually headed towards as economic disparity widens.
My .02c