Thoughts on new ca laws SB9/ SB10?

[Adrian Hollifield]

For the people who read the new CA SB9 and SB 10 laws, what do you think the impact of these laws will be?

I feel that SFH in big cities like SD, Bay Area, and LA are going to become more valuable as more of them get converted to multi family properties.

It also seems tempting to try to buy single family homes and convert them in some of the smaller cities.

Thoughts ?

[Will Barnard]

This is yet another example of politicians thinking they know how to fix a problem, but they don't. Gascon's idea to fix the prison overcrowding problem is to simply release prisoners. Fantastic idea moron! So if I have too much cash in my bank account, I should burn some to fix that problem, right!

I like the ADU laws as an investor, as a primary residence owner, I do not like the idea that any of my neighbors can create a new rental unit in their back yard adding more cars parked on the street and tenants in the community. I love the ADU laws associated with multi family properties. They are already multi family and higher density than an SFR lot so no big changes. As for SB9 & SB10, I think they are a horrible answer to the problem of housing shortage and housing affordability. The state is already massively overcrowded in the cities and you don't alleviate the housing shortage by converting some SFR's to multi family. Just as you don't alleviate the drought by placing rules on single family homeowners during the drought which account for a tiny fraction of the state's water usage.

That all said, from an investor/developer standpoint, getting your hands on lots that can be rezoned could produce windfall profits for you if done right. Splitting SFR lots to build more and sell doesn't work for investors due to the owner occupancy for 3 year minimums unless you do a long term house hack play for that and of course, could only do that once every 3+ years.

Bottom line, not a fan of them or those who wrote them! How about building us more freeways (or at least more lanes on each freeway) and increasing density for multi family.