fair housing california

California legislators put a hundred million dollars on the table to buy their first home Rec policyholders were surprised when they actually agreed supply? Â Apparently, this is so.Â Now they are trying to put more money in the coffers for this gift.

The program is a tax credit in three years in three equal installments for new buyers homes.Â The definition of the new house is to be a family residence, individual or aggregate, and never before occupied.Â After purchase, the buyer must occupy the property for a minimum of two years and receives a credit of $ 10,000 or 5% of the price, whichever is less.

The program, adopted in February 2009, established a hundred million dollars for this incentive.Â Surprisingly, this money was offered at a time when the State California is by some measures, bankruptcy!

Now, there is a new two bills pending in Sacramento that add about $ 200 more - $ 300,000,000 to program.Â In my opinion, the original bill was unacceptable, given the state of California economy.Â double or triple the original gift is totally incomprehensible.

These actions should definitely win the prize for the largest California â € œtax Splenda and state € in our short history.Â Why this bill only applies to new homes? Â If California really help the housing market, why wouldn € ™ t this bill apply to any purchase of a house?

It may be cynical, but how can this applies only to new homes because builders new in California draws millions to the reelection campaigns of state legislators? What is very interesting, to examine public records in one year now to see how many legislators States that have supported this program, has received campaign contributions from builders of new homes.

For California home buyers, especially the first buyers who are eligible for federal funds and $ 8,000 California $ 10,000 credit, which is a deal.Â But it's really great fair that taxpayers are footing the bill? Is it common sense, if California would such a program, that this instrument applies all the home shopping to reduce the oversupply of existing homes? A This program does nothing to reduce the supply of existing homes, vacant homes and bank foreclosures.

If this new buyer € ™ s credit, and pending new legislation, strengthening the funding is not sufficient evidence that California legislators should stay out of real estate, perhaps remembering that other mischief € ™ ve thei done.Â Mischief with good intentions and negative results is still widespread mischief.Â these good people the eviction process 30 days in 2008, and as I didnâ € ™ t seem quite generous, added another 90 days target = "_blank" title = "San Diego housing market,"> (home of California), this Adding year.Â all legal requirements, our legislators propose practically a year old œmortgage free.it € â € Â-these are the laws real estate in California, is an injustice to the taxpayers of California?

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