House flippers again

That and the government "wants a piece of the action". There is no greed like government greed.

Amen...

Don't fall into the classic liberal pit. Which is to find something that they think isn't right, assume that it's governments job to fix it, to tax it, to make it right. They ignore that more often than not, they make things worse. No one is forcing anyone to take a low offer. Did you take it? With the CA tax, it would not apply to just low ballers, it would apply to anyone who buys a house and sells it in less than 3 years, without regard to whether it was a far deal, above market price at time of purchase, etc. You'd think the libs would be happy that investors are buying homes, fixing them up, improving neighborhoods. Apparently that's only good now if the government does it with public housing and your tax money. And the typical politicians coming up with these ideas, never had to run a business, make a profit. Many never had a job other than govt.

Why don't you start bitching about the proposed law when it becomes law - until then you're tilting at windmills.

Best of all worlds they have heavily leveraged houses up the ass when the RE market collapses.