I think prop 13 changes real estate as an asset class here a bit. I don’t know if they also changed the law already on the 500k tax free gains, but when it was first allowed, some of my friend’s parents was selling places and moving to another to repeat the process to cash out…bad thing is all the places they sold are worth more now, but still…
Unlike Texas with unlimited land and near no appreciation, I think flu posted a chart that any pullback in the 80s, 90s, 2000s came back with stronger increases in silicon valley.
Yes, all this can change and maybe it’s different this time, maybe a nuke can go off or parts of CA will fall in the ocean, but at the end of the day, I certainly wouldn’t be too worried if you only have 1 place which you live in.
All this doesn’t matter much to me since I can’t buy or sell anything, am stuck with my owner occupied place for a long while and that’s it…
