Here are the State Documents for your Review – CA Real Estate is DONE! Add me on insta @thisisjohnwilliams
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I’ve lived in California for over 12 years and loved living in and around Los Angeles. I worked in locations ranging from Long Beach to Beverly Hills and almost everywhere in between. My main interest has always been real estate, real estate investment, personal financing, money and entrepreneurial activities. I believe CA offered a ton of opportunity however the last few years have been very challenging for real estate investors as many would argue that it seems their private properties are being seized with new protocols that are being implemented in the state.
However now California is launch gin their own public bank which will serve as a building block for them to buy local housing and turn them into social housing so that the state can take them out of the capitalistic and speculative housing market and turn them into affordable properties. These affordable properties will be entirely removed and state owned.
The state of CA is holding $100,000,000,000 (100 Billion in a Surplus) and with fractional reserve banking they could lend up to 10X. In the event that they only use their 100 Billion to purchase local assets to serve the citizens for affordable housing this would mean that if they purchased units for $100,000 per door (apartment buildings in California traded for these prices in 2008 – 2009 after the economic crash) then they could purchase upwards of 1,000,000 housing units. If they implemented fractional reserve banking they could purchase upwards of 10,000,000 housing units. The state of CA has roughly 14,200,000 housing units so that would be a large block of CA’s housing stock.
I believe that this breaking news will change the way that housing and property is viewed in CA and many would argue or feel that the property is being seized.