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

To: Amy J who wrote (12500)	8/17/2003 6:56:27 PM
From: David Jones	Respond to of 306849

....She said people rented out their properties because of proposition 13...."doesn't make sense to get rid of it because of proposition 13."..... I cant help myself I have to jump in. I have never heard of that. People hold their old property because they don't need the equity and want income property. They don't want to be taxed for the CAPITAL GAINS and the extra income is always a plus. The only time I here about 13 is when someone wants to build or add and they don't want to be reassessed. .....Proposition 13 reduces the available supply of homes to residents.... One can make a much better argument about capital gains.