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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (2192)	3/31/2014 6:37:05 PM
From: tejek	Read Replies (1) \| Respond to of 2722

I think its very hard for people east of the Rockies to understand the CA housing market. It feeds off itself in a way that makes it very different. We see it in Boston, NYC, Philly, DC even Miami.. Many of the same dynamics but you got the best weather by far, the far more creative, educated class of immigrants from Asia and Prop 13. Its more than that......... a different attitude. More of a willingness to take a risk. Hard to explain. Does Prop 13 do a lot to hold a ton of supply from every going to market? In the beginning probably yes, but I suspect there is little impact these days. The NE cities really crushing long term owners with property taxes going up at double digit rates each year it seems.. Yes, property tax is higher in the NE than CA. But CA has other ways of getting taxes so I think in the long run it evens out.

To: John Vosilla who wrote (2192)	4/1/2014 7:58:14 PM
From: gcrispin	Read Replies (1) \| Respond to of 2722

It is interesting to read what is happening east of the Atlantic. opp-connect.com I have a niece studying German in Berlin. She says that most of the students in her language school are French. They want to improve their German for the simple reason that they want to find employment in Germany. Certainly a low unemployment rate, high wages, an inviting physical and cultural climate, and low interest rates are important variables to housing prices. FWIW, I do believe that Prop 13 has played a role in keeping people from selling their homes. It most likely has contributed to a great deal of remodeling in CA. Of course, the effect is mitigated over time as houses are eventually sold and reassessed.