[quote=CBad]Why would you doubt people would be in that position? It’s not that difficult in CA if you bought a while ago and didn’t use your house as an ATM.[/quote]
Now I’m confusing myself. Cash out refi would make no difference in this scenario. You would just get hit with the same tax and less profit.
Nevertheless, many people who bought pre bubble in CA would fall into this taxable scenario when selling.
