I don’t want to hear any more complaining on this forum about inventory shortages causing skyrocketing housing prices (especially in coastal markets) from people who now profess not to care about the long-term ramifications of Props 58 and 193.
I get it that if an elephant is standing right in front of you, it can be a bit “tricky” to see what is on the other side . . . to get the complete “lay of the land,” if you will, before navigating your way around it :=]
I asked two very relevant questions earlier in this thread and the fact that no one answered them or commented on them is very telling to me.
[quote=bearishgurl]Food for thought and two questions for Piggs:
If you owned a SFR in SD County in good shape which was worth $400K, it had a current tax bill of $600 per year and could fetch $1750 in monthly rent, would you ever sell it?
If you had one or two siblings and your last parent recently passed and left their principal residence in San Diego County (a SFR worth $550K) to all of you in equal shares, would you attempt to purchase your siblings’ portion from them (~$275K – $367K) to take title to use the property for a rental investment? Current assessment is $78K, resulting in a current tax bill of $850, which would carry over to any new (child or granchild) owner. Monthly rent would be $2200 – $2400.[/quote]
