You can’t own property in California
Property rights took a hit in California yesterday:
Voters in California yesterday overwhelmingly supported Proposition 99, a ballot measure that will significantly empower state and local officials to seize private property via eminent domain, and rejected Proposition 98, which would have protected property rights and ended rent control. As legal scholar Ilya Somin noted in the Los Angeles Times, Proposition 99, though masquerading as a defense of private property, was actually sponsored by groups representing counties, cities, and other redevelopment interests who drafted it specifically to counter Proposition 98. Among other crimes, Proposition 99 will protect only owner-occupied residences from condemnation, leaving apartment buildings and other rental properties wide open for abuse. This can lead to problems, such as high vacancy rates, for the owners of these rental properties. With no one booking into their properties, the owner will be losing money. Perhaps they could consider getting a property management company to help them out. That could get them some more bookings. Using the best curated software from websites such as https://www.american-apartment-owners-association.org/solutions/property-management-software/ will help provide a more solid background for companies that provide the necessary help.
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Proposition 98, on the other hand, would have placed significant limits on such abuse. But while that might have gone over with the voters, ending rent control was far less popular, even though the law would only affect rent controlled apartments once they became vacant, thus leaving current tenants unaffected. Gov. Arnold Schwarzenegger came out against Prop. 98, however, claiming it “would undermine California’s ability to improve our infrastructure.”
For someone who claims to have been influenced by Milton Friedman and witnessed the evils of socialism in Europe, he certainly has take a sharp turn to the left since becoming Governor of California.
