Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: GraceZ who wrote (12818)	8/21/2003 2:06:16 PM
From: gpowell	Read Replies (1) \| Respond to of 306849

Well there is your answer as to why real estate went nuts, not Prop 13. If it were just Prop 13 then it would be a consistent problem all over CA. You made them millionaires paying so much for the houses around them but you forgot you did that. You were able to do that because you had funny money from stock options and tech stocks. Thank you. I said this back in March. SV realestate is a unique market compared to the rest of california. Prop 13 was not a response to real asset appreciation. No one has much sympathy for millionaires getting richer through asset appreciation.

To: GraceZ who wrote (12818)	8/21/2003 2:16:26 PM
From: Lizzie Tudor	Read Replies (4) \| Respond to of 306849

yes the infusion of money from silicon valley certainly drove prices here, but the lack of available property put the price escalation on overdrive. But that isn't the issue is it? The issue is, 2 houses, same street same services, one old person pays $1K in taxes and the young person pays 5x that. Is this ok with you because it is not ok with me. Anyway the thing is, I am all for low taxes. My issue is with the folks that use services and down't pay for them. We can shut down a ton of hospitals and services for the elderly and not be any worse for wear here, believe me. These people are a drain on the system. I would love to pay what Warren Buffett pays in taxes.