[EconProf]

With prices now falling at least 1% per month, waiting one year will save you $50k to $100k.

Your tradeoff is quite simple: Is the pain of moving worth that amount of money?

[EconProf]

With prices now falling at least 1% per month, waiting one year will save you $50k to $100k.

Your tradeoff is quite simple: Is the pain of moving worth that amount of money?

[EconProf]

With prices now falling at least 1% per month, waiting one year will save you $50k to $100k.

Your tradeoff is quite simple: Is the pain of moving worth that amount of money?

[EconProf]

With prices now falling at least 1% per month, waiting one year will save you $50k to $100k.

Your tradeoff is quite simple: Is the pain of moving worth that amount of money?

[EconProf]

With prices now falling at least 1% per month, waiting one year will save you $50k to $100k.

Your tradeoff is quite simple: Is the pain of moving worth that amount of money?

[EconProf]

There are big property tax benefits to tearing down 99% of the old house and building the new house incorporating that 1% or so left over versus scraping all of the old and building new.
The former is classified as a “remodel” and the latter as a whole new house. The property tax differential, which goes essentially forever, is HUGE.
Furthermore if you are near the coast, I believe the Coastal Commission will not interfere with a remodel as compared with a new house. The Coastal Commission is a sleeping dog you don’t want to kick.

[EconProf]

There are big property tax benefits to tearing down 99% of the old house and building the new house incorporating that 1% or so left over versus scraping all of the old and building new.
The former is classified as a “remodel” and the latter as a whole new house. The property tax differential, which goes essentially forever, is HUGE.
Furthermore if you are near the coast, I believe the Coastal Commission will not interfere with a remodel as compared with a new house. The Coastal Commission is a sleeping dog you don’t want to kick.

[EconProf]

There are big property tax benefits to tearing down 99% of the old house and building the new house incorporating that 1% or so left over versus scraping all of the old and building new.
The former is classified as a “remodel” and the latter as a whole new house. The property tax differential, which goes essentially forever, is HUGE.
Furthermore if you are near the coast, I believe the Coastal Commission will not interfere with a remodel as compared with a new house. The Coastal Commission is a sleeping dog you don’t want to kick.

[EconProf]

There are big property tax benefits to tearing down 99% of the old house and building the new house incorporating that 1% or so left over versus scraping all of the old and building new.
The former is classified as a “remodel” and the latter as a whole new house. The property tax differential, which goes essentially forever, is HUGE.
Furthermore if you are near the coast, I believe the Coastal Commission will not interfere with a remodel as compared with a new house. The Coastal Commission is a sleeping dog you don’t want to kick.

[EconProf]

There are big property tax benefits to tearing down 99% of the old house and building the new house incorporating that 1% or so left over versus scraping all of the old and building new.
The former is classified as a “remodel” and the latter as a whole new house. The property tax differential, which goes essentially forever, is HUGE.
Furthermore if you are near the coast, I believe the Coastal Commission will not interfere with a remodel as compared with a new house. The Coastal Commission is a sleeping dog you don’t want to kick.

[EconProf]

Lets remember that the CA state income tax is the harshest in the nation. It is probably the most steeply progressive, topping out at about 10%, and especially hits the middle class $50k & up earner.
And CA’s treatment of capital gains must be the most punishing in the nation. I recently sold a long-held property, and the state bite was about 60% of the federal take.
Some states, including Texas and Washington, have NO state income tax. Their economies and real estate are doing quite well. Our far-left Sacramento legislators, OTOH, are now pushing for a higher income tax. Another reason the high achieving, high earning middle and upper class is fleeing CA.

[EconProf]

Lets remember that the CA state income tax is the harshest in the nation. It is probably the most steeply progressive, topping out at about 10%, and especially hits the middle class $50k & up earner.
And CA’s treatment of capital gains must be the most punishing in the nation. I recently sold a long-held property, and the state bite was about 60% of the federal take.
Some states, including Texas and Washington, have NO state income tax. Their economies and real estate are doing quite well. Our far-left Sacramento legislators, OTOH, are now pushing for a higher income tax. Another reason the high achieving, high earning middle and upper class is fleeing CA.

[EconProf]

Lets remember that the CA state income tax is the harshest in the nation. It is probably the most steeply progressive, topping out at about 10%, and especially hits the middle class $50k & up earner.
And CA’s treatment of capital gains must be the most punishing in the nation. I recently sold a long-held property, and the state bite was about 60% of the federal take.
Some states, including Texas and Washington, have NO state income tax. Their economies and real estate are doing quite well. Our far-left Sacramento legislators, OTOH, are now pushing for a higher income tax. Another reason the high achieving, high earning middle and upper class is fleeing CA.

[EconProf]

Lets remember that the CA state income tax is the harshest in the nation. It is probably the most steeply progressive, topping out at about 10%, and especially hits the middle class $50k & up earner.
And CA’s treatment of capital gains must be the most punishing in the nation. I recently sold a long-held property, and the state bite was about 60% of the federal take.
Some states, including Texas and Washington, have NO state income tax. Their economies and real estate are doing quite well. Our far-left Sacramento legislators, OTOH, are now pushing for a higher income tax. Another reason the high achieving, high earning middle and upper class is fleeing CA.

[EconProf]

Lets remember that the CA state income tax is the harshest in the nation. It is probably the most steeply progressive, topping out at about 10%, and especially hits the middle class $50k & up earner.
And CA’s treatment of capital gains must be the most punishing in the nation. I recently sold a long-held property, and the state bite was about 60% of the federal take.
Some states, including Texas and Washington, have NO state income tax. Their economies and real estate are doing quite well. Our far-left Sacramento legislators, OTOH, are now pushing for a higher income tax. Another reason the high achieving, high earning middle and upper class is fleeing CA.

[Author]

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