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

To: John Vosilla who wrote (31133)5/12/2005 5:41:20 PM
From: Jim McMannisRespond to of 306849
 
RE:"I think the tax breaks artificially reduce supply in many areas as folks stay put due to low RE taxes on their homestead."

Absolutely correct in places like California (prop 13) and more lately Florida (save our homes law).

California and Vegas are the perfect example. Prop. 13 > less inventory > increase in prices > cash in tax free up to 500k > move to Vegas > buy a bigger house and pocket money > meanwhile run up in Vegas goes through the roof.

Same thing > northeast to Florida.

Jim



To: John Vosilla who wrote (31133)5/13/2005 7:52:22 AM
From: Crimson GhostRead Replies (1) | Respond to of 306849
 
Palm Beach county now is the ninth priciest market in the nation according our local paper. Median existing home price around $360,000.


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