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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (7688)	12/31/2002 12:55:51 AM
From: MulhollandDrive	Respond to of 306849

ah yes...i vaguely remember the basis for prop 13 now that you mention it......i forget the guy's name that was behind it.... but i remember he got national media attention at the time.. just more greed at the hands of government....you would think the outstanding leadership would figure out taxing people out of their homes is not a good thing <g> and just lower the rate rather than have the situation of a tax payer revolt. and the law of unintended consequences seems to always reign supreme....but as you say, the fear of the tax payers that voted in the prop is i'm sure still very real as they saw people in forced to sell situations.... fear and greed...what a way to run a gov't....kinda like the stock market, except for the coercive part <ggg>

To: Lizzie Tudor who wrote (7688)	1/2/2003 6:11:20 PM
From: MSI	Respond to of 306849

because the legislature was taxing people out of their homes in the 70s. Indeed it was. Prices were going up back then as well as legislatures increased taxes, I remember my folks telling me of neighbors in town having to sell due to constant opportunistic reassessments and tax increases thru 50s-70s. Calif has been activist, forcing 1/2 all revenues into education by constitutional amendment, and Jarvis and Prop 13 which caused ripples around the country. I'm even more convinced the "Perfect Storm" is brewing when I see panic denials from all the usual suspects in the media this week, even Rush Limbaugh saying the usual bombast "the economy's great -- the Dems just want disaster, and terrorism too!" etc. etc. Housing has made its move, the market will do a "January Effect" then decline to a P/E that makes more sense, the states will have to pile on debt, bond issues, excuses, outsourcings and layoffs. The pressure will be irresistable for taxes and state expenses to seep into every corner of life, like hydrostatic pressure of water seeping into a basement when you can't even tell where it's coming from. One ray of light is in "Smart Mobs", Rheingold's new book on how tech is going to bypass gov't overcontrol. A good read...