I am running for the California 42nd District State Assembly to ban foreign and institutional investors from the California residential real estate market.

​

In many regions of California as many as 1/3 of all homes sold are sold to this type of buyer with all cash, no conditions,  and well over market value. These homes are then turned into low quality rental homes, or in the case of many foreign buyers, practical money laundering schemes that drive the price of the entire California real estate market. Even the 2/3rds of the market that aren't sold to these investors are affected by their presence in the bidding process, driving up housing costs across the board. Many people are unable to begin the homeowner phase of their lives, failing to get a starter housing option and simply giving up.

 

There are many paths to housing reform, but I believe that we must begin with clear, concrete steps that can be taken with almost no negotiation over zoning and other complex issues that have hindered progress so far.  Allowing for our citizens' future to be gate-kept at the first-house-tollbooth by these bad actors is a failure of legislative conviction. It cannot be allowed to continue.