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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 (9010)	2/18/2003 1:51:16 PM
From: Jack of All Trades	Read Replies (1) \| Respond to of 306849

"The thing that rekindled it for me is the budget crisis in the state, now all the renters have to pay increased sales taxes, taxes on everything but once again... long time homeowners are "exempt". " Increase in sales taxes are paid by everyone that purchase items??? I would think the renters are the ones with the tight budgets these days, so their discresionary spending would be less. One way to kill Prop 13 is to have a bunch of banks stuck paying the tax bill or local gov stuck with property that is not generating any tax revenue. They'll soon figure out they need to change the law... IMO

To: Lizzie Tudor who wrote (9010)	2/18/2003 2:46:06 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 306849

lizzie, in many ways i agree with you. the parents have robbed their children in many ways. social security, deficit spending and prop 13 are just a few examples. no, i'm not happy about those things in many ways. having siad that, i still didn't put myself in a position where i would later regret it. i understand there is always a danger in buyin ghigh and i avoid it. wrt to the budget crisis, it is a spending crisis. i heard that since 1998 population is up 21%, income is up 28% and SPENDING is up 36%. IT IS A SPENDING CRISIS, not a budget crisis. i hate the dems b/c they put total losers into office who burn through billions in stupid energy plans and i hate the pubs b/c they pur up an idiot to run against a total lose in davis so the moron stays in power to screw up the state even more. btw, the guy who caused the energy debacle is now running the state budget. nice promotion, davis. ps - the hi-tech industry caused real estate to go up so high so that wealth is directly related to hi-tech work more than any "intrinsic" value of the land. whoever argued that real estate created more wealth than the hhi tech industry just doesn't understand the hi-tech industry caused the vast majority of the real estate appreciation.

To: Lizzie Tudor who wrote (9010)	2/18/2003 9:39:27 PM
From: Spekulatius	Read Replies (1) \| Respond to of 306849

Prop. 13 - I hear a lot of complaints from the city officials about Prop. 13 and I don't think it's justified. Here in the North Bay most houses have increased by 60-80% during the last 5 years. However despite Prop. 13, people are still buying and selling houses, adding 2nd units etc. i don't see a strong impact of Prop. 13 on mobility and i'd venture the guess that the property taxes have increased much more than inflation or salaries here. Sure there are a few LT owner who pay very little property taxes, but the majority of people still move every 7 years or so. As far as the "free ride" of LT RE owner is concerned - well many people have enjoyed free rides. You did mention that you paid for your RE through AOl stock -supposedly these were stock options. If so, I could argue that you have enjoyed a free ride on the back of common stockholder right? For me Prop 13 is simply a vote for less taxes - there is no reason the city should get 20% more taxes, just because the property appreciates by 20%. It sure is a somewhat extreme measure to freeze the taxes on a property as long as ownership remains the same, however i gladly take this extreme over the other extreme of funneling an ever increasing windfall of tax dollars to the city.