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

To: Skeeter Bug who wrote (205311)	5/30/2009 1:41:51 PM
From: Steve_C	Read Replies (3) \| Respond to of 306849

<<<<<<oh, and nobody said that housing would drop 60% b/c of a prop 13 repeal - you misunderstood (imagine that!). it was 60% form the top and there would be a marginal decrease in housing should prop 13 be eliminated.>>>>>> Here is Jimmy saying a 67% drop right here: 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. Message 25663658 And, guess what, he says it to you, and you agree with him!