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

To: Peter V who wrote (141660)8/18/2008 3:49:29 PM
From: Jim McMannisRead Replies (1) | Respond to of 306849
 
Once you buy at a high price, your tax basis is locked in at the high price.

Not with prop 13. The tax bill would float with the assessment.

RE:"If people were worried about taxes, they would not be paying so much."

Except that when mania began, people either thought they had to buy (panic buying) or be on the outside forever or they didn't care because they thought the price would keep going up and they could flip.


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