Learn about the latest motion by the San Diego County Board of Supervisors and its potential impact on the housing market.

Serving Families across San Diego County since 2014 New San Diego Housing Policies Targeting Corporate Buyers: What to Expect Amid soaring home prices, the San Diego County Board of Supervisors approved a motion targeting corporate homebuyers and landlords. The motion, proposed by Supervisor Terra Lawson-Remer, aims to combat corporate manipulation of the housing market, which is contributing to the region's affordability crisis. The board's action focuses on potential litigation and legal measures against corporate practices like price gouging, tenant harassment, and price fixing. This includes examining lawsuits against rent-pricing software companies like RealPage, accused of enabling landlords to collude on rental prices. The motion passed 3-1, with Supervisor Joel Anderson opposing and Chair Nora Vargas absent. The county's chief administrative officer will provide data and policy options within 90 and 180 days, respectively. This legislation is crucial because it seeks to protect renters and first-time homebuyers from inflated housing costs driven by corporate ownership. It ensures homes remain accessible and neighborhoods stable. Keeping an eye on the policy options that should come to light in the next 180 days will be key. I am curious to see how the City of San Diego defines corporate buyers. Many investors purchase homes through LLCs, corporations, and trusts, and it will be interesting to observe the impact this motion has on these investors. Blackstone, an institutional real estate investor, owns 5,600 units across 66 buildings in San Diego, averaging 84 units per building. These are not properties typically affordable for individual buyers. In contrast, homes purchased by smaller investors are more likely to be sold to families or first-time buyers. As we approach the policy rollout in the next six months, it will be crucial to monitor who will be affected by this new policy and whether it leads to a significant increase in inventory in San Diego. The balance between curbing corporate influence and ensuring housing availability for local investors and individual buyers will be a critical aspect to watch. See the full article here Read my Reviews Ready to make a move? Give me a call today! See all of my listings here The highest compliment I can receive is a referral to your family and friends. I look forward to working with you now or in the future. Thank you for your time today. 3825 32nd St San Diego, CA 92104 US Update Profile