[quote=pfflyer] . . . Who believes the prime areas (waterfront) will decline or will remain the same due to lack of inventory as boomers die in place?[/quote]
I do not believe “waterfront, whitewater view or expansive city view” properties will decline in value. I don’t know if “boomers retiring in place” will be the cause of the stability of these prices (maybe to some extent) but I DO think that properties handed down through families (Prop 58 “heirs”) have a LOT to do with the dearth of high-quality “prime properties” on the market in CA coastal areas at any given time, thus keeping the values of the properties that ARE marketed higher. Prop 58 virtually enables a property affected by the (Prop 13) freezing of values at the April 1978 level (+2% per year unless Prop 8 is invoked [ex. 2010]) to receive a very deep property tax discount into perpetuity as long as it is passed down through a family (whether or not any $$ ever actually exchanged hands).
