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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 (203719)	5/22/2009 1:58:41 PM
From: Bank Holding Company	Respond to of 306849

It gets better when you factor in mortgage insurance. whada country!

To: Jim McMannis who wrote (203719)	5/22/2009 2:03:09 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 306849

>>Without prop 13...doesn't a $600k house return to $200k in shortER order? Which ought to tell you the effects of tax breaks on houses etc. Throw in a repeal of the zero cap gains tax on the sale of a primary residence and the $200k turns into about $150k. It would be more but we've already fallen a bunch so less people have a profit.<< in theory, yes. however, i own property in a WA state where their main income is property tax. the house prices haven't fell nearly as much as in CA and, in many cases, are worth more for comparable homes. there are lots of factors. eliminating prop 13 does NOTHING to fix the over spending problems of the state - which have outpaced population increases and inflation. in fact, it enables the problem. apparently, some people see a benefit in enabling the problem. i do not. even worse, if taxes have to be raised, don't do it on the backs of the unemployed - sales tax, car tax, child tax elimination. that's cruel. raise income taxes on those who still work. yes, this would increase my tax burden a bit, but sometimes a sense of moral fairness has to trump self interest. again, unbridled spending by greed bag legislatures in sacramento is the problem. eliminating prop 13 won't fix them or the problem - they'll just spend up the additional revenue and then some. that's why this clown wants to do away with the 2/3 vote for a tax increase IN ADDITION TO the dismantling of prop 13. THEY WANT EVEN MORE!