patrick.net

Good

TrumpingTits says

Imagine how much they would fall if the federal government banned all foreigners from purchasing housing property in the US, like the government of New Zealand did.

.... and deported all illegals.

Remove Prop 13 entitlements for the remaining 60%. That should make a real difference.

Liberal_in_blackface says

TrumpingTits says

Imagine how much they would fall if the federal government banned all foreigners from purchasing housing property in the US, like the government of New Zealand did.

.... and deported all illegals.

prices would probably fall back to 1990s maybe even 1980 prices.

Blue says

Remove Prop 13 entitlements for the remaining 60%. That should make a real difference.

Increasing cost has never made anything cheaper. Why are liberals so economically illiterate? It’s not Stone Age, information is free and available.

APOCALYPSEFUCKisShostikovitch says

NO MONEY DOWN MORTGAGES WILL TAKE CARE OF THAT!

INNOVATION!

NO, MONEY DOWN!

You forgot the comma. :)

Fortwaynemobile says

Increasing cost has never made anything cheaper. Why are liberals so economically illiterate? It’s not Stone Age, information is free and available.

Yes, Removing CA Prop 13 entitlement benefits to foreigners will cost them more money to keep housing by paying current 1% tax. That will entice them to sell. More properties getting in to market will bring the price down, that is economics 101.

I see lot of people are very very worried if they hear Prop 13 entitlements benefits going away. The rational is, if the entitlements is gone for foreigners, they are next in the line!
My argument is nothing to do with any political sides. It is strictly looking for equality for all under the law. We must all pay the same rate.

Most houses are America owned. It’ll fuck it up. Foreigners don’t have that.

You are proposing to fuck millions over to maybe force few foreigners to sell. It’s not even logical dude.

Blue says

Fortwaynemobile says

Increasing cost has never made anything cheaper. Why are liberals so economically illiterate? It’s not Stone Age, information is free and available.

Yes, Removing CA Prop 13 entitlement benefits to foreigners will cost them more money to keep housing by paying current 1% tax. That will entice them to sell. More properties getting in to market will bring the price down, that is economics 101.

I see lot of people are very very worried if they hear Prop 13 entitlements benefits going away. The rational is, if the entitlements is gone for foreigners, they are next in the line!
My argument is nothing to do with any political sides. It is strictly looking for equality for all under the law. We must all pay the same rate.

Blue says

We must all pay the same rate.

Federal income tax is not flat. CA income tax is not flat. Start there.

Liberal_in_blackface says

Blue says

We must all pay the same rate.

Federal income tax is not flat. CA income tax is not flat. Start there.

This topic is not about income tax.

TrumpingTits says

California can not do that w/o approval from Congress, I believe.

Yes. Until it get revoked, CA is THE entitlement state at the expense of the new buyers who end up paying a lot more property taxes. And lot more other taxes for missing revenue from Prop 13.
Hope something will change once the boomers are gone. But there is a good change that their next generations will hang on to the property to keep the entitlement benefits.

Everyone gets old.

What you pay today may seem like a lot, but it won’t be 30 years from now. You are speaking typical leftist envy.

Blue says

TrumpingTits says

California can not do that w/o approval from Congress, I believe.

Yes. Until it get revoked, CA is THE entitlement state at the expense of the new buyers who end up paying a lot more property taxes. And lot more other taxes for missing revenue from Prop 13.
Hope something will change once the boomers are gone. But there is a good change that their next generations will hang on to the property to keep the entitlement benefits.

Fortwaynemobile says

Everyone gets old.

What you pay today may seem like a lot, but it won’t be 30 years from now. You are speaking typical leftist envy.

I do not care left or right at all. This is a Ponzi scheme. I do not like Ponzi schemes.

It’s not.

It keeps government out of people’s pockets.

Blue says

Fortwaynemobile says

Everyone gets old.

What you pay today may seem like a lot, but it won’t be 30 years from now. You are speaking typical leftist envy.

I do not care left or right at all. This is a Ponzi scheme. I do not like Ponzi schemes.

Blue says
I do not care left or right at all. This is a Ponzi scheme. I do not like Ponzi schemes.

@Blue You're right! I never heard it put that way, but Prop 13 is a classic Ponzi scheme: distribute fake profits taken directly out of newcomers' capital.

Prop13 lets the people who have been in the CA housing market get their own property tax paid by newcomers. The newcomers in turn get the promise that they can fuck over even newer people forcing them to pay.

Works until you run out of newcomers.

Guys... You're missing the point. It protect home buyers from the fucking CA govt. They get plenty from income taxes and A-Z taxes. It would just be another money grab from Sacramento and will hasten our decline into Princes and Peasants more quickly than we are already.

I'm not even a 'home' owner in CA, have spent most of my life here (was born here), have no vested interests for my family (cos they got the fuck out of here mostly already dragging 10s of millions with them) but I don't want to see it removed.

Blue is wrong, they get it from working slobs like me.

If we have some sort of tax payer revolution that succeeds among other things like removing the illegals etc., then lets talk about letting the state remove that protection. Until then hellll no.

Also. Although I despise the leftists boomers in this state for all they've done. I don't want to see the few (left) good oldsters get screwed over. Type-1 vs. Type-2 error so to speak.

tovarichpeter says

The Chinese government has restricted the amount of money Chinese nationals can take out of China to $50,000 and vola - condo sales in LA have dropped nearly 40%.

Do you have source stats? I want to understand what exactly this means "dropped nearly 40%"... cause 40% drop of purchasing power in a condo market should result in a YUGE crash. Sorry if someone shared already but has the market dropped in LA?

It’s not, it’s just stability for old age.

Trust me you won’t be making the kind of money you make now when you are old.

This prop passed back when old people were losing housing left and right because corrupt entitled unions were asking for constant tax increases on housing.

If it was up to me, after 65 no property taxes on primary residence. And everyone before 65 pays average rate for the area.

If prop 13 repeals, taxes only go up. Housing isn’t dropping in price. Because it’s a function of supply demand.


Patrick says

Blue says
I do not care left or right at all. This is a Ponzi scheme. I do not like Ponzi schemes.

@Blue You're right! I never heard it put that way, but Prop 13 is a classic Ponzi scheme: distribute fake profits taken directly out of newcomers' capital.

Prop13 lets the people who have been in the CA housing market get their own property tax paid by newcomers. The newcomers in turn get the promise that they can fuck over even newer people forcing them to pay.

Works until you run out of newcomers.

Blue says

Liberal_in_blackface says

Blue says

We must all pay the same rate.

Federal income tax is not flat. CA income tax is not flat. Start there.

This topic is not about income tax.

This topic is about tax. And tax revolt which is exactly what Prop13 was.

People against prop 13 forget CA gov will be the only winner. Taxes will go up prices will fall and cost of living will be the same except we all have less equity and more taxes.

Do you really think CA gov does anything but take take take? They would increase entitlements and pensions with the windfall and give the rest of us nothing.

RC2006 says

People against prop 13 forget CA gov will be the only winner. Taxes will go up prices will fall and cost of living will be the same except we all have less equity and more taxes.

Yep, we'll turn into Illinois (with higher SIT rates to boot).