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

To: ild who wrote (12386)8/15/2003 2:57:43 PM
From: Elroy JetsonRead Replies (3) | Respond to of 306849
 
Repealing Prop 13 may look very good to most people compared with the alternatives. It will take quite a large consensus to repeal or amend a proposition, but we may very well be coming up on that.

That's what makes California so fun. The recall law and the ease of putting propositions on the ballot all date back to the gold rush days in one form or another.

I think the Prop 13 property tax freeze for non-residential property is a goner for sure. Residential Prop 13 for people under 65 is at least a 50-50. Being able to inherit your parent's Prop 13 basis is long overdue to say goodbye. Just my guess.



To: ild who wrote (12386)8/15/2003 4:54:59 PM
From: David JonesRead Replies (2) | Respond to of 306849
 
...If yes, I guess houses will dive but rents will soar...

Could and no. Homes were moving fine before 13 and after by the way, plus rents are market driven. Tenants can only pay what the can afford.
Do away with 13 and return to the 50 to 100% rise in property taxes a year like pre 13 and run more business and jobs out of Cal. Now that will lower home prices.


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