I second the notion that RE depreciation is no longer debatable. We just need to sit back and see how far down it’ll go.
vcjim, on Prop 13, what I find unfair, is that if your parents bought a house in La Jolla for $100k, and now it’s worth $2 Million, you now own the house but you pay less in property tax than somone who just bought a condo in Escondido. That’s just a very regressive tax structure.
