Homeownership – and the increased wealth that comes with it – is at a high point. Could one bill destroy it all?
California Speculation Act
In what could be the biggest racket of all time, the California Speculation Act is a bill proposing a tax on selling property if owned for seven years or less. A recent Los Angeles Time article sates the assembly bill is focused on house flippers, but Byron and Nicole make note of a few glaring flaws. In this segment, we discuss:
- Who will be taxed if the bill passes (and how much)
- How the bill affects individual homeowners
- The impact on the market in California
$8.2 Trillion Gain in Housing Wealth
Between 2010-2020, there was an $8.2 trillion gain in housing wealth. But the vast majority (71%) of that wealth was generated by high income households, with just 4% being generated by low-income households. We share our thoughts on:
- The reason for such a large gap between high income and low income households
- Why ‘location, location, location,’ is a driving factor in housing wealth
Walmart and Lenders One
Everyone wants to be part of the real estate game, including Walmart. The retail giant recently announced it will start leasing space in their stores to Lenders One. By the end of 2022, 20 mortgage offices will open inside Walmart stores. We love this move for many reasons. In this segment, we discuss:
- Making mortgage and homeownership accessible to more people
- The right way vs. the wrong way to open mortgage offices in retail stores
Watch The Real Word episode 213 now.
