The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Lizzie Tudor who wrote (10929)	6/3/2003 12:50:24 AM
From: Spekulatius	Read Replies (1) of 306849

Lizzie, we have been through some arguments about Prop 13 before and I have tended to side towards the pro side so far. However after reading through your arguments I believe that Prop. 13 does indeed cause more harm then good. The argument that Prop. 13 enable elderly to stay in their homes is Ok but why does Prop. 13 apply to investment properties and commercial real estate? If I owned a house as an investment property i can charge market rents - why should I get a tax break as a LT holder - economically this does not make any sense? Also fairly recent cap gain tax breaks on real estate sales make it easier to cash in appreciation tax free - the argument for that is to encourage mobility and Prop. 13 counters that. Ad the very least i would limit Prop. 13 to the primary residence only.

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