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

To: tejek who wrote (168730)12/3/2008 4:13:11 PM
From: Peter VRead Replies (2) | Respond to of 306849
 
Prop 13 did not REDUCE taxes for new buyers, it simply kept them somewhat level from the time they bought. And it was enacted 30 years ago. So I don't buy your theory that it caused a bubble for new buyers, at least one that has any effect now. And now that the bubble has popped, why isn't Prop 13 keeping prices inflated?

Moreover, we saw plenty of bubbles in other states that don't have Prop 13.


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