Since Proposition F didnt require any argument: Proposition G. What It Does: Imposes a large (up to 22%) additional transaction tax on certain multi-unit residential property which is sold at a profit less than 5 years after purchase. Pro Argument: a lot of the current housing crisis is being driven by real estate speculators, and an additional tax will make their business model untenable. Con Argument: the tax will punish desperate homeowers and ultimately end up being passed through to renters in the form of decreased availability and higher rents.
Posted on: Tue, 21 Oct 2014 02:51:02 +0000