By Caroline Abkar | Windermere Homes & Estates | October 2018
The California Association of REALTORS® submitted the ballot initiative for Proposition 5 stating that almost 75% of homeowners 55 and older haven’t moved since 2000 in fear of the moving penalty they cannot afford. With elections right around the corner, there is so much information out there, much of which is unfortunately incomplete or plain biased. You may think I am partial as a REALTOR®. Truth is, I am a big proponent of making informed decisions in all aspects of life so let’s take a deep dive into Proposition 5 as well as the main arguments in favor and against this initiative so that you feel equipped and confident when voting.
In order to illustrate the impact of Proposition 5, I will use a real life example (clients’ name changed to protect privacy).