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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 (12675)	8/20/2003 1:09:53 AM
From: Jim McMannis	Respond to of 306849

Seems to me that if the property taxes were allowed to float then these inflated RE prices would go way down. OTOH, Prop 13 is certainly not the only reason RE prices are out of whack or the reason for a 38 billion dollar deficit. You have to consider the "all things to all people" mentality has caught up with California. Prop 13 will not go down easy. That deficit may well grow to 100 billion before disintegration occurs. Prop 13 just made the inevitable happen sooner. Jim