Red Alert

Posted by admin on June 7th, 2009 | 1 comment

Projections are for AB761 to be voted on by the Assembly on Wednesday, June 10. This bill, if passed, would institute “vacancy decontrol” statewide. This means that, even in parks having rent control, rent control would be suspended whenever a home changes hands, allowing the rent to be increased substantially for the new owner. Once the new owner starts paying rent, rent control would be applied again, but starting from the highter rent. This would make it very difficult, if not impossible, for the current owner to sell the home at a reasonable price.

Oceanside has many seniors living on a very limited income and getting more so every day. Seniors are living to a ripe old age, like in their 90’s and income has deminished. Most of the time they have to sell their home and go into assisted living. The money from this home is what helps pay the cost which is very high.

AnnC

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  1. On June 07, 2009 Mr WordPress says:

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