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: MulhollandDrive who wrote (12918)	8/22/2003 12:55:12 AM
From: Lizzie Tudor	Read Replies (2) of 306849

no I'm not a RE investor because I didn't buy my properties for investment purposes. What I find amazing about this entire discussion is the inability for folks to see that I don't have a personal (read: GREED) motivation for making the case that I do. I personally will not benefit from the unraveling of prop 13 except for the somewhat indirect benefit from making my industry healthier. That is just really tough for people to swallow here, I can see that. What kind of a society do we have that middle aged and older folks actually think that it is ok for them to pay 1/5 the taxes as somebody younger and just starting out who is residing in the same property. How can these people sleep at night? Take an example of your son/daughter, vs a sibling. Would it be acceptable for you to live in a system where your sibling, presumably a middle aged adult, could live in a 3 million dollar home and pay $2K taxes which appreciated at most $40. per year but your 22 year old newlywed kids with a low income and a baby on the way had to pay $6000/year and increases of a few hundred per year for 1/6 the house??! I know we live in a greedy society but this older generation (hopefully not my generation) takes the cake. No wonder the US economy was in a perpetual state of decline when they were in their peak earning years. The best we can hope for is that they are marginalized soon for one reason or another. As for me, my own personal greed is obviously not on the same level as the folks on this thread. Maybe that is why I'm not a RE investor, I also think I have more control over my personal wealth than the RE investors here do, although I probably have less money (at the moment only). I think they are scared and that is their real problem, it is a sign of weakness, like a bad king who terrorizes his people or something. They think without this law they can't make it, and you know what, they probably can't.

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