What will the repeal of Prop 13 do to the market?

[bearishgurl]

If Prop 13 were repealed, what would it do to the market?

It would put a more inventory out there. Even if it is just repealed for “new and subsequent heirs,” a decedent’s property would likely be put on the market instead of one heir “buying out” the others, due to the permanent low tax basis. The heir(s) will have no incentive/reason to hang onto a deceased parent’s property and will just want to “cash out.”

As it stands, many more decedents’ properties in CA are actually “handed down” (by bequest or quitclaim deed) than are marketed, due to the “Prop 13 perk,” which allows (future or present) heirs to live in these (often free-and-clear) properties practically free (+ ins/utils).

In addition, when Prop 13 homeowners get ready to move in with kids or to an assisted-living facility, their property will be marketed instead of one of the kids “automatically” moving in to “hold down the (free) fort.” There’s no reason to hang onto it with market-rate taxes attached to it.

[Coronita]

[quote=ILoveRegulation]
Do Piggs see all these “heirs” and “heirs of heirs” any LESS able-bodied than you and I to pay “market-rate” property tax.[/quote]

Welcome back IForget or is it BigGovernmentIsGood? Why aren’t you using your original handle?

[Coronita]

[quote=ILoveRegulation]
Do Piggs see all these “heirs” and “heirs of heirs” any LESS able-bodied than you and I to pay “market-rate” property tax.[/quote]

Welcome back IForget or is it BigGovernmentIsGood? Why aren’t you using your original handle?

[Coronita]

[quote=ILoveRegulation]
Do Piggs see all these “heirs” and “heirs of heirs” any LESS able-bodied than you and I to pay “market-rate” property tax.[/quote]

Welcome back IForget or is it BigGovernmentIsGood? Why aren’t you using your original handle?

[Coronita]

[quote=ILoveRegulation]
Do Piggs see all these “heirs” and “heirs of heirs” any LESS able-bodied than you and I to pay “market-rate” property tax.[/quote]

Welcome back IForget or is it BigGovernmentIsGood? Why aren’t you using your original handle?

[Coronita]

[quote=ILoveRegulation]
Do Piggs see all these “heirs” and “heirs of heirs” any LESS able-bodied than you and I to pay “market-rate” property tax.[/quote]

Welcome back IForget or is it BigGovernmentIsGood? Why aren’t you using your original handle?

[Coronita]

Of course we like to focus on things that would make housing more affordable. Anything at this point to crash the housing markets..Lol.

[Coronita]

Of course we like to focus on things that would make housing more affordable. Anything at this point to crash the housing markets..Lol.

[Coronita]

Of course we like to focus on things that would make housing more affordable. Anything at this point to crash the housing markets..Lol.

[Coronita]

Of course we like to focus on things that would make housing more affordable. Anything at this point to crash the housing markets..Lol.

[Coronita]

Of course we like to focus on things that would make housing more affordable. Anything at this point to crash the housing markets..Lol.

[SD Realtor]

Yeah I know FLU. Obviously there are just so many of these wealthy old people around. They just flood the San Diego area. It also goes without saying that there are tons and tons of kids who have these homes from there old but not dead parents and are not paying the so called market rate property taxes.

It is almost laughable.

At least the opponents for prop 13 should argue other problems with it (as there are many) and they don’t have much to do with residential real estate.

[SD Realtor]

Yeah I know FLU. Obviously there are just so many of these wealthy old people around. They just flood the San Diego area. It also goes without saying that there are tons and tons of kids who have these homes from there old but not dead parents and are not paying the so called market rate property taxes.

It is almost laughable.

At least the opponents for prop 13 should argue other problems with it (as there are many) and they don’t have much to do with residential real estate.

[SD Realtor]

Yeah I know FLU. Obviously there are just so many of these wealthy old people around. They just flood the San Diego area. It also goes without saying that there are tons and tons of kids who have these homes from there old but not dead parents and are not paying the so called market rate property taxes.

It is almost laughable.

At least the opponents for prop 13 should argue other problems with it (as there are many) and they don’t have much to do with residential real estate.

[SD Realtor]

Yeah I know FLU. Obviously there are just so many of these wealthy old people around. They just flood the San Diego area. It also goes without saying that there are tons and tons of kids who have these homes from there old but not dead parents and are not paying the so called market rate property taxes.

It is almost laughable.

At least the opponents for prop 13 should argue other problems with it (as there are many) and they don’t have much to do with residential real estate.

[Author]

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