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To: Les H who wrote (4673)9/22/1998 1:39:00 PM
From: dougjn  Read Replies (1) | Respond to of 67261
 
I know nothing about Calif. prop 13 other than a few snipits I've picked up reading a few posts here.

Sounds as though in some manner it sharply limits revaluation of the real estate if it has been long held, or unless and until a sale. Or some such.

Anyway, does anyone know if opponents think there is a Federal Constitutional issue to this proposed change, presumably to the Calif. state constitution? Along equal protection type lines, or others?

Doug



To: Les H who wrote (4673)9/22/1998 1:51:00 PM
From: Lizzie Tudor  Respond to of 67261
 
Les, thats exactly right. Thats the issue. Supply removed from the demand/supply continuum just like a database manufacturing application. You know what happens when you remove supply, slowly, over the years? The remaining supply (what little there is) is bid up in price exponentially. Thats what we have now. If we removed prop 13 in Ca, prices would go down, way down.


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