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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (2192)3/31/2014 6:37:05 PM
From: tejek  Read Replies (1) of 2722
 
I think its very hard for people east of the Rockies to understand the CA housing market. It feeds off itself in a way that makes it very different.

We see it in Boston, NYC, Philly, DC even Miami.. Many of the same dynamics but you got the best weather by far, the far more creative, educated class of immigrants from Asia and Prop 13.

Its more than that......... a different attitude. More of a willingness to take a risk. Hard to explain.

Does Prop 13 do a lot to hold a ton of supply from every going to market?

In the beginning probably yes, but I suspect there is little impact these days.

The NE cities really crushing long term owners with property taxes going up at double digit rates each year it seems..

Yes, property tax is higher in the NE than CA. But CA has other ways of getting taxes so I think in the long run it evens out.
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