Prop 10 is Bad for Homeowners
Prop 10 Is An Attack on Homeowners
Prop 10 eliminates protections for homeowners and allows regulators to tell homeowners how much they can charge to rent out even one room in their home. It could limit the price of renting a single-family home forever. These changes will reduce home values for middle-class families at a time when many homeowners are counting on their homes to help finance their retirement.
Prop 10 Will Cost Homeowners an Average of $60,000 in Reduced Home Value
The policies authorized by this initiative have been shown to reduce property values by more than 10%, according to MIT researchers, and significantly restricts what single-family homeowners can do with their homes. The average California homeowner could lose $60,000 in the value of his or her home if this initiative passes.
Prop 10 Will Take Away Homeowners’ Rights
Prop 10 eliminates protections for homeowners and allows regulators to tell single-family homeowners how much they can charge to rent out a single room in their homes. Homeowners will be subject to regulations and price controls enacted by local governments and unelected rent boards.
Prop 10 Prevents Homeowners on a Fixed Income from Generating Supplemental Income
For retirees relying on their rental property for income, they may no longer be able to make ends meet. Seniors could be forced out of retirement and back into the workforce, right when they should be able to enjoy their golden years.