It’s no secret that California has a housing crisis, especially when it comes to affordable housing. The democrats in California has built housing bills that are not designed to save money. Instead, these bills create a plethora of additional fees for anyone who wants to build or buy and sell property. Instead of figuring out how to reduce the cost of doing real estate business, the California Democrats have done the opposite.
The Senate Bills
The first bill, Senate Bill 2, increases fees for filing real estate documents with county clerks. This bill is innocuously called “Building Homes and Jobs Act.” But, there is little that is innocuous about it. According to the wording of the bill, all filings for each real estate property would have a fee of $75, with the fees not to exceed $225 for each parcel. This is a hefty fee.
The money raised between the 2018 calendar year is already earmarked for two purposes. First, half of the money would go to local governments and the other half would go to the Department of Housing and Community Development for at-risk people experience homelessness. In the 2019 calendar year, the direction of money changes to the local government and the California Housing Finance Agency for low-income financing.
