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

To: Cactus Jack who wrote (204060)	5/24/2009 2:01:26 PM
From: bentway	Read Replies (2) \| Respond to of 306849

One thing I know, as a resident of CA for many years. If Prop 13 is rescinded, millions of poor white, black and latino Californians living in paid-for CA houses, one generation following the next, will have to relocate. If Prop 13 had never happened, they would have already been priced out of the state.

To: Cactus Jack who wrote (204060)	5/25/2009 4:51:33 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 306849

>> In 2009, voters clearly are fed up with increasing taxes.<< there, fixed that for you. if you don't believe me, note that the behind kicking prop 1A got in spite of lies from government, lies from corporate unions and the "do it for the children or we'll cut your fire fighters and police" cram job. we are talking 2-1 drubbings across the board.

To: Cactus Jack who wrote (204060)	5/26/2009 10:53:05 AM
From: ajtj99	Read Replies (2) \| Respond to of 306849

In 1978 we had runaway inflation. Assessments were going up to match the increases in the values of the homes due to inflation. People who bought houses years before and had retired were being taxed out of their houses in California. Prop 13 was Harold Jarvis' populist answer to this issue, and it was just as wrong then as it is now. Historically over the past 110 years housing has appreciated on average in line with the CPI. Indexing the assessments to the CPI would have been a much better method. Combined with an annual cap and a catch-up provision, it could have solved many of the problems associated with the inflationary increases in taxes. California is completely disfunctional. They may need to amend the bankruptcy code to allow a state to declare bankruptcy.