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California has a housing catastrophe


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2017 Jun 10, 7:50am   4,643 views  34 comments

by tovarichpeter   ➕follow (6)   💰tip   ignore  

http://www.sacbee.com/opinion/opn-columns-blogs/erika-d-smith/article153899264.html

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1   Blurtman   2017 Jun 10, 8:14am  

Move if you can't afford the area.

2   anotheraccount   2017 Jun 10, 8:15am  

How to fix it:
- Fed raises interest rates to 2.75-3% - 3% risk free will cause some landlords to take profits and sell their investments
- California repeals Prop 13 - with home ownership rate at 52% there is a chance especially that recent homeowners might benefit as well
- California builds more high density housing - simplify permit process and lower fees as there will be more money coming from Prop 13 repeal

3   FortWayne   2017 Jun 10, 8:18am  

Repeal of prop 13 would just increase taxes and costs of housing. Bad idea. Government as you know will never have enough, no matter how high taxes are.

4   lostand confused   2017 Jun 10, 8:22am  

tr6 says

California repeals Prop 13 - with home ownership rate at 52% there is a chance especially that recent homeowners might benefit as well

Be careful what you wish for. Another person I know lives down in IL and his property taxes went up 19% in one year.. Yup19%.

5   anotheraccount   2017 Jun 10, 8:26am  

FortWayne says

Repeal of prop 13 would just increase taxes and costs of housing.

Texas has very high property taxes and much lower prices. Home ownership rate in Texas is 10% higher than in California. This tells me that's it's better to have higher taxes on property and lower prices.

6   anotheraccount   2017 Jun 10, 8:26am  

lostand confused says

Be careful what you wish for. Another person I know lives down in IL and his property taxes went up 19% in one year.. Yup19%.

Illinois is just screwed.

7   anotheraccount   2017 Jun 10, 8:28am  

Blurtman says

Move if you can't afford the area.

Coming from you? Obviously you don't run from problems and try to fix them. Housing in California is a policy problem not a market problem. I showing three policy changes that can fix it.

8   Blurtman   2017 Jun 10, 8:33am  

tr6 says

Obviously you don't run from problems and try to fix them.

People have no right to things they cannot afford just because they desire them. There are much more affordable areas in other parts of the country. And yes, removing the ability to control inflows of illegal immigrants from communities causes loss of control of resources.

9   RWSGFY   2017 Jun 10, 8:34am  

Kick out the illegals - instant million vacant units.

10   Strategist   2017 Jun 10, 8:43am  

tr6 says

FortWayne says

Repeal of prop 13 would just increase taxes and costs of housing.

Texas has very high property taxes and much lower prices. Home ownership rate in Texas is 10% higher than in California. This tells me that's it's better to have higher taxes on property and lower prices.

Texas has no state income tax. Is California willing to eliminate state income tax?

11   anotheraccount   2017 Jun 10, 8:54am  

Blurtman says

People have no right to things they cannot afford just because they desire them

yes they do if they are a majority and can change the policy. What I am saying is that renters who are about to be a majority in California can benefit from the policy changes. Repealing prop 13 would also help people like myself that have a hard time justifying buying another home because my property tax is very low on the current home.

12   anotheraccount   2017 Jun 10, 8:56am  

Strategist says

Texas has no state income tax. Is California willing to eliminate state income tax?

I think it would be possible to reduce the income tax greatly if we were collecting more property tax. Think about, Atherton has the lowest effective property tax rate in the country - 0.6-07 percent.

13   FortWayne   2017 Jun 10, 8:59am  

They have 0 income tax.

tr6 says

FortWayne says

Repeal of prop 13 would just increase taxes and costs of housing.

Texas has very high property taxes and much lower prices. Home ownership rate in Texas is 10% higher than in California. This tells me that's it's better to have higher taxes on property and lower prices.

14   anotheraccount   2017 Jun 10, 9:04am  

FortWayne says

They have 0 income tax.

So does Florida. Same story high property taxes, no income taxes. California should move in this direction. Right now a Google engineer out of college is working for the land lord and the state of California. Need to change both.

15   Strategist   2017 Jun 10, 9:11am  

tr6 says

FortWayne says

They have 0 income tax.

So does Florida. Same story high property taxes, no income taxes. California should move in this direction. Right now a Google engineer out of college is working for the land lord and the state of California. Need to change both.

High property prices are not due to Prop 13. They are due to high demand caused by population growth.

16   Shaman   2017 Jun 10, 9:12am  

FortWayne says

Repeal of prop 13 would just increase taxes and costs of housing. Bad idea. Government as you know will never have enough, no matter how high taxes are.

It would increase taxes but not the cost of housing for people who are buying houses. That said, we need to retain an exception for senior citizens, like my original state of Alaska does. In Alaska you get a 75% reduction in property taxes if you're a senior citizen. To me, that sounds fair, and would eliminate any reasonable objection about this tax.

17   anotheraccount   2017 Jun 10, 9:19am  

PCGyver says

Take prop 13 away for businesses and property that is rented. Problem solved.

That would probably be a good compromise. Get to keep prop 13 on primary residence. That time of repeal could actually win. 48% of renters plus another 25% who are homeowners with a single primary residence.

18   anotheraccount   2017 Jun 10, 9:21am  

Strategist says

High property prices are not due to Prop 13. They are due to high demand caused by population growth

Prices in CA will still be higher than in Texas and Florida due to better jobs and demand. They will be more affordable with higher property taxes.

Florida population is growing faster than California's yet they still have lower prices and are more affordable.

19   lostand confused   2017 Jun 10, 9:47am  

I believe FL property taxes are quite low too, on top of not having income taxes.

20   Strategist   2017 Jun 10, 10:12am  

tr6 says

Prices in CA will still be higher than in Texas and Florida due to better jobs and demand. They will be more affordable with higher property taxes.

Florida population is growing faster than California's yet they still have lower prices and are more affordable.

lostand confused says

I believe FL property taxes are quite low too, on top of not having income taxes.

If they raise the prop 13 I will get hit bad. Along with a high cost of living, high state income taxes, I will be much better off elsewhere. I will pack up and move to Florida. An oceanfront home at Coco Beach or somewhere nice would be ideal.

21   Ceffer   2017 Jun 10, 11:29am  

Florida and Texas have big bugs and humidity. That's worth about $800 per square foot less.

22   Blurtman   2017 Jun 10, 1:42pm  

Ceffer says

Florida and Texas have big bugs and humidity. That's worth about $800 per square foot less.

Face eaters and other folks who are crazy as coots.

23   HEY YOU   2017 Jun 10, 3:44pm  

FortWayne says

Taxes are bad.

How much do you benefit form taxes paid by others?
Have you paid enough to support all infrastructure & services that you use?
Taxes are socialized.Ready to eliminate those that support your socialist needs.

24   FortWayne   2017 Jun 10, 5:06pm  

I'll be fine without government or taxes. There is nothing state government does for me that I can't do for myself.

HEY YOU says

FortWayne says

Taxes are bad.

How much do you benefit form taxes paid by others?

Have you paid enough to support all infrastructure & services that you use?

Taxes are socialized.Ready to eliminate those that support your socialist needs.

25   anotheraccount   2017 Jun 10, 6:19pm  

FortWayne says

That's very typical liberal logic of "redistribution". It's where you fail

So Texas and Florida are liberal states because they have high property taxes?

26   FortWayne   2017 Jun 10, 6:25pm  

tr6 says

FortWayne says

That's very typical liberal logic of "redistribution". It's where you fail

So Texas and Florida are liberal states because they have high property taxes?

No they are not, but they are also not into redistribution like the left is.

27   anotheraccount   2017 Jun 10, 6:41pm  

FortWayne says

No they are not, but they are also not into redistribution like the left is.

You have to pick one. I am proposing higher property taxes and lower income taxes and you are saying that's redistribution. Yet when Texas and Florida have the same system then it's ok there. which one is it?

28   Strategist   2017 Jun 10, 8:18pm  

tr6 says

FortWayne says

No they are not, but they are also not into redistribution like the left is.

You have to pick one. I am proposing higher property taxes and lower income taxes and you are saying that's redistribution. Yet when Texas and Florida have the same system then it's ok there. which one is it?

Florida and Texas DO NOT have low income tax. They have ZERO income tax. Therefore, making someone choose one or the other is very very deceptive.

29   FortWayne   2017 Jun 10, 8:46pm  

I pick 0 all taxes

tr6 says

FortWayne says

No they are not, but they are also not into redistribution like the left is.

You have to pick one. I am proposing higher property taxes and lower income taxes and you are saying that's redistribution. Yet when Texas and Florida have the same system then it's ok there. which one is it?

30   NoYes   2017 Jun 10, 8:53pm  

It's Trumps fault.........if Trump hadn't been elected.....all us white people would be riding the buses with the homeless and illegals and ex-cons and everything would be ok.

31   MMR   2017 Jun 11, 8:57am  

HEY YOU says

Have you paid enough to support all infrastructure & services that you use?

That's a better question for people who are not likely to be on this site; namely, people who don't pay income tax.

32   anonymous   2017 Jun 11, 9:32am  

I agree with removing Prop 13, but replacing it with an equal property tax that is based on lot size and not property value. This way, it's fairly distributed.

33   FortWayne   2017 Jun 11, 11:50am  

just any guy says

I agree with removing Prop 13, but replacing it with an equal property tax that is based on lot size and not property value. This way, it's fairly distributed.

That isn't fair inherently because property values fluctuate based on speculation, and peoples lives cannot have the instability of wall street imposed on them through government unsatisfiable appetite for taxes.

34   anonymous   2017 Jun 11, 12:45pm  

FortWayne says

just any guy says

I agree with removing Prop 13, but replacing it with an equal property tax that is based on lot size and not property value. This way, it's fairly distributed.

That isn't fair inherently because property values fluctuate based on speculation, and peoples lives cannot have the instability of wall street imposed on them through government unsatisfiable appetite for taxes.

It's fair for the exact reason you state. For the system I propose, property taxes would NOT fluctuate based on property value. The tax rate would be simply a dollar amount that is determined by the size of the property, not the value.

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