CAR INITIATIVE FOR NOVEMBER BALLOT
YES ON PROPOSITION 5 AND NO ON PROPOSITION 10
REALTORS® engagement in the November election is critical to addressing California’s housing crisis through protecting homeownership and private property rights across the state.
YES ON PROP 5
The C.A.R. Property Tax Fairness Initiative (Prop 5) removes the unfair moving penalty for seniors, the severely disabled and disaster victims across the entire state while still ensuring they pay their fair share of property taxes.
- Seniors will have the freedom to downsize or move closer to family.
- The severely disabled will be able to move to more practical home.
- Many disaster victims will now have the opportunity to move without being penalized.
Too many Californians feel like they will never be able to become homeowners. Eliminating the moving penalty for seniors, disaster victims and the severely disabled will create more opportunities for homeownership for first time buyers and young families.
NO ON PROP 10
Prop 10 will make California’s housing crisis worse. It’s the wrong solution for a state that desperately needs to create more affordable housing for middle class families. Seniors, veterans, both gubernatorial candidates – Democrat Gavin Newsom and Republican John Cox – and affordable housing experts all oppose Prop 10 because it will make housing less available and less affordable.
Prop 10 will:
- Let government dictate rental pricing for privately owned single-family home
- Reduce home values by more than 10%, according to MIT researchers; an average loss of approximately $39,000 per California homeowner.
- Significantly restrict what single-family homeowners can do with their homes.
- Could allow bureaucrats to charge homeowners a fee for taking their home off the rental market.
Prop 10 will reduce affordable and middle-class housing in California and drive down existing home
values, resulting in fewer direct and indirect real estate transactions, and less economic activity and
investment. For more information, please visit www.housingforCalifornia.com
FOR MORE INFORMATION, PLEASE VISIT: ON.CAR.ORG/CAYES5NO10