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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 (10952)	6/2/2003 7:09:35 PM
From: Wyätt Gwyön	Respond to of 306849

there is an underlying assumption that we live in an inflationary society and "freezing" ones property taxes at some locked down amt means that even if the property didn't hyper-inflate, you'd still have people paying less than their share for services they use eventually. And that is exactly what we have, except guess what, properties did hyperinflate (which is of course a result of "freezing" the current owners costs to 75 levels) and now an entire generation of freeloaders is sucking off the new residents. excellent point. that pretty much sums up everything that is wrong with the ridiculous Prop 13 system. my guess is California will go down the tubes as a result, because the beneficiaries as a group are too self-centered and greedy to pay their fair share. to hell with schools, to hell with a balanced budget, i want my million-dollar condo and i'm only going to pay $1000 a year in tax, waaah! actually, California is already going down the tubes if school test scores and budgets are any indication, but a patina of normalcy is maintained thanks to the housing bubble.

To: Lizzie Tudor who wrote (10952)	6/2/2003 7:16:47 PM
From: Wyätt Gwyön	Respond to of 306849

in another sign of how the highest-paid members of our society are just beneficiaries of nonproductive economic activity generated from the mortgage bubble, Marie Claire just had an article where they sent 3 guys to a bar with different T-shirts on. the idea was to see how the women would react to them. one of the T-shirts said: "3 inches, $21,000 a year" another said: "6 inches, $50,000 a year" and the last one said: "8 inches, $160,000 a year" the last guy was a mortgage broker.