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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (12407)8/15/2003 10:47:43 PM
From: Selectric IIRead Replies (2) of 306849
 
Re your complaint about Warren Buffett's little tax bill on his CA property:

"Uncle Warren" is legendary for his bone-picking acquisitions at below fair market value. I wonder whether he scarfed up that asset in distress, or otherwise below market, perhaps undervalued and therefore undertaxed, and maybe the tax assessor didn't do a comprehensive update at the time of the transaction (wink, wink, or not). Other scenarios could be envisioned, too.

Uncle Warren ALWAYS buys at a big discount, to my understanding. It seems to be his style.

It would be ironic that he's complaining about the little tax bill, except that he probably carries that much cash in his pocket. He can afford to be liberal.
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