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Real Estate Round-Up: 'American Dream' getting tougher to achieve

Remember the good ‘ole “American Dream of Home Ownership?” I do. It was something our parents cared deeply about, and their parents cared even more deeply about. It was a statement that you had roots, stability, status and an assumed level of happiness. After all, it was a place to raise your family, a place to relax after a hard day, a place to fulfill your dreams. Sadly, this dream may never come true for our children and/or some of our friends.

The housing market is constantly under attack by well-meaning groups and legislation meant to improve our lives. Just this past week, the California Energy Commission voted to require that solar panels be built into new homes starting in 2020. This decision didn’t come before our state legislators, it didn’t come before the voters, it was passed by hand-selected appointed people who have one focus, as if it is in a vacuum, and that is to lessen our carbon footprint, no matter what.

This ruling applies to single family homes, condominiums and apartments. Sounds like a great idea from the perspective of lowering our carbon footprint, but what else does it affect? Imagine adding $20,000 to the cost of every new dwelling? That is the estimate the California Builders Association said it will cost per dwelling. We already live in a state where only 29 percent of our population can afford to purchase a median-priced home, which is $564,830 in the state of California and a whopping $625,400 in San Diego County – over half a million dollars.

Another attack on the housing market is coming in the form of something that many people will say makes sense. In November, you will get to vote for or against “rent control.”

We all have heard stories of how expensive rent is in Fallbrook and across the state, so we should do something to make it more affordable, right? So I think I’ll vote in favor of it, right? No. If this rent control goes into effect, it will halt all building of rental units, period. Which means our housing shortage will get worse. Also, the existing rentals will become more expensive, because of simple supply and demand. In addition, it will give unreasonable protection to renters.

So, that “accessory dwelling unit” you just built? Guess what, once you put a tenant into it, you will only be able to remove them for “just cause.” Which means that if things are going poorly, even when their lease is up they get to stay because “things just aren’t working out” is not “just cause” to evict.

Or how about this? You get a short-term job transfer and you want to return to your little slice of Fallbrook heaven once it’s over. You decide to rent your home out during that time because it’d by better to have someone living in your home rather than have it vacant. But when you return, your tenant doesn’t have to go anywhere if they don’t want to.

So, here’s the thing – there are always two sides to every story, and each needs to be heard and evaluated as such. We all want clean air and a place to call home, but every piece of legislation that governs these privileges has a price tag. We may live in the “land of the free” but we all know “nothing is free.” So make sure you have the facts from both sides so we can collectively defend the “American Dream.”

Kim Murphy can be reached at [email protected] or (760) 415-9292 or at 130 N Main Avenue, in Fallbrook. Her broker license is #01229921, and she is on the board of directors for the California Association of Realtors.

 

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