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

To: JF Quinnelly who wrote (13087)	8/24/2003 12:56:49 PM
From: portage	Read Replies (1) \| Respond to of 306849

For one, I've never bought into the 'greatest generation' line (though I don't have much to say for the hip hoppers or boomers either). For two, I have elderly parents. For three, the elderly are not freeloaders on everything, but on property tax in California they sure are. That's the only issue I'm discussing here. Go ahead, cast me as an elderly hating upstart. This bogus deflection to protect your own windfall is irrelevant. Weak argument. How can thinking elderly long term homeowners avoid getting "pushed out of their homes" if property tax rates were equalized ? (raising them on the artificially low longtime homeowners, lowering them for the new purchasers, and meeting at a fair point in the middle) : 1. Reverse mortgage 2. Cash out refi. Use for taxes. Continue to live in home, sell it at some future point, huge tax free windfall covers any debt. 3. Get assistance (loans) from children who will inherit the home with a huge Prop. 13 tax carryover windfall (mostly or all tax free). If families benefit from inheritance, they should TAKE RESPONSIBILITY for their parents, not be subsidized by the non-related young who are paying huge mortgages and huge property tax bills, and who are likely to suffer equity losses in the coming property slump. Very few of the long term homeowning elderly probably have any mortgage payments anymore anyway. Why is it that conservatives are so against any form of social assistance except the ones that benefit themselves ? And I'm not one of the young. I benefit (irrationally) from Prop. 13, but the answer's not to have a few of us volunteer to pay more, but to equalize the rate for all. The rates my family pays will go up too. Cheers, freeloader.