California lawmakers are considering Senate Bill 584, a bill that would impose a 15% tax on short-term rentals like Airbnb and Vrbo in order to fund affordable housing and provide help to alleviate the homeless crisis. The bill is headed to the Assembly after the Senate voted 27-11 in favor of it and, if approved, the tax would begin in 2025. Continue to full article...
In the last five years, the number of millennial homeowners in Seattle has doubled. 45% of the Seattle millennial population are homeowners, which is higher than the national average of 52%. Experts attribute the rise to a combination of low mortgage rates during the pandemic, delayed having children, and a shortage of housing supply. Low mortgage rates have since increased to 6-7%, so it remains to be...
Approximately 2.5 billion Father's Day cards are sent each year. Neckties have become a popular traditional gift for Father's Day. "World's Greatest Dad" is a popular Father's Day phrase. Breakfast in bed is a common Father's Day treat. Wishing a fantastic Father's Day to all the dads who strive to be the best...
Solana Beach is looking to update their 2003 vacation rental ordinance, which was created long before Airbnb and Vrbo existed, to bring more rentals into compliance and prevent nuisances to neighbors. Currently, there are 267 permitted rentals in the city and an estimated 100-150 unpermitted rentals. The city is hiring a consultant to help track down those without permits, as well as increasing...
The housing affordability in California rose to its highest level in a year during Q1 2023. The revised forecast for the 2023 housing market projects 280K units sold. It also shows a statewide median price of $777K. The 2023 housing market forecast predicts ↓ single-family home sales. Housing affordability will remain a challenge due to high interest...
California lawmakers are considering Senate Bill 584 by Sen. Monique Limón, which would impose a 15% tax on short-term rentals to generate an estimated $150 million annually to build or rehabilitate low- and middle-income housing. Airbnb has rallied its hosts to oppose the bill, while Gov. Gavin Newsom is apprehensive about increasing taxes. The bill aims to boost housing affordability, but is facing...
Here’s a list of the most expensive states for median home prices: Hawaii: $849K California: $761K Washington: $596K Colorado: $560K Massachusetts: $559K Utah: $545K Oregon: $502K New Jersey: $442K...
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Recent data indicates that home values in SoCal may have begun to rebound.In April, the median sales price for existing single-family houses in SoCal ↑ 2%. The number of homes available for sale in SoCal ↓ 21% since the beginning of the year. Despite limited inventory, sales in SoCal ↑ 34%....
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