The latest housing market as well as economic data is holding up well and a strong job market is helping households shoulder the worsening burden of rising prices. With consumers having to pay almost 25% more for their monthly housing cost this year than last year, and having their incomes stifled by inflation, purchasing a home is getting tougher financially for many buyers. Despite this apprehension, home sales have remained strong up to this point. Housing supply also seemed to have improved, with construction spending climbing, while inventory of existing homes continued to head in the right direction.
The California Association of REALTORS® strongly OPPOSES Assembly Bill 1771, authored by Assemblymember Chris Ward, which attacks private property rights by imposing up to a 25% tax on the gain from selling a home or other real property