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To: tejek who wrote (114103)5/23/2012 1:10:59 AM
From: mel221  Respond to of 149317
 
I suspect that chart doesn't accurately reflect the housing price increases in highly populated area like San Francisco and LA. I'm sure the house price appreciation was much less in Modesto and Sacramento.

I have looked at some simple homes in California and they were nearly 250K in 1980. Prop 13 was passed in 1978. As I remember, population growth (driven by aerospace in LA) and Inflation were ravaging the fixed income home owner in California (my grandmother).

My memory of the events back then are more aligned with BUTW



To: tejek who wrote (114103)5/23/2012 9:41:21 AM
From: Bread Upon The Water  Read Replies (1) | Respond to of 149317
 
Your own graph shows Calif house prices went from 24k to 99k from 1970 to 1980---And I can tell you it was more than that in the SF Bay area. Which proves my point--Calif retirees could not deal with the tripole increase in their property taxes--hence Prop 13.


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