And prop 13 is only great for those who've lived in their homes for a long long time. The poor souls who are trying to buy now? They're getting economically gang raped paying 10x property taxes what their neighbor is.
“RE has already imploded in CA for many who can’t even afford a basic run of the mill tract home.”
That is not true! We drove to Milpitas from our home in Danville yesterday to attend a funeral for a friend. Since I no longer commute to San Jose for work, I was shocked at the building of apartment complexes along I 680 from Dublin all the way to Milpitas.
“And prop 13 is only great for those who’ve lived in their homes for a long long time. The poor souls who are trying to buy now? They’re getting economically gang raped paying 10x property taxes what their neighbor is.”
Well, while that’s true, it surely doesn’t seem to have any effect on home sales here. The home across the private road on which we live, sold two years ago for $2.1 million (which probably has a property tax bill of $24,000 per year attached). It was sold to a young couple from San Jose who have very young children. And they are pouring money into redoing all their landscaping. BTW, their property taxes are about 3x what we pay, not 10x, and we’ve been here for 35 years.