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

To: Jim McMannis who wrote (34617)	6/29/2005 10:45:01 AM
From: John Vosilla	Respond to of 306849

Maybe not Jim now that I think about it a little more. Perhaps it only keeps people in their home who were thinking of downsizing somewhere in their market. If they were cashing in their chips and moving to a low cost state it would be irrelevant.

To: Jim McMannis who wrote (34617)	6/29/2005 5:33:48 PM
From: David Jones	Read Replies (1) \| Respond to of 306849

>>>>>OK then, repeal prop 13 and let property taxes adjust to current home values.<<<< And just where would that be? What system are you advocating to replace the current one? Are you saying that the repealing of 13 equals to an immediate reassessment of all real estate to what your neighbor/speculator is willing to pay? Is that what your thinking? Because note the stories of other states coming to grips with such flawed systems. 13 is a shining star in this real estate appreciating nutty environment it's possible the only system that makes any sense. >>>>> People taxed right out of their homes.<<<<< It's happened before. Let me tell you about my little four unit sub division. I purchased in 98 a second changed hands in 02 a third has changed hands three times sense 00. And the last is occupied by a retired couple and they're adding on another third in square footage to their residence. So everyone's taxes have adjusted or are going to be adjusted sense I purchased. And so goes every other residence in California at an average of about seven to ten years. 13 allows one to plan ones life without second guessing the assessor. And allows for tax increases every year to every residence, just not at pace some politicians would like. >>>>>Huge inventory rise. Crash.<<<< Ya right no 13 then a crash. Ok sure if your advocating raising taxes to such a level that artificially causes one. Then ya I can agree, because I never under estimate the stupidity of my government.