When is the Next CA Housing Price Collapse Supposed to Happen? (taxation, bill)

[Scorpion3510]

Originally Posted by CA4Now

New homeowners benefit from Prop 13. Without it, their property taxes would be what they are in other states. Very few people are against Prop 13.

Right, I understand that. I'm saying that there could be a new proposition to rewrite Prop 13 where any new homeowners would not be eligible for its benefits. However, the existing homeowners would be grandfathered in and be able to keep their property tax rates under the old Prop 13 scheme.

[Robertfchew]

Originally Posted by Scorpion3510

Right, I understand that. I'm saying that there could be a new proposition to rewrite Prop 13 where any new homeowners would not be eligible for its benefits. However, the existing homeowners would be grandfathered in and be able to keep their property tax rates under the old Prop 13 scheme.

People would stop buying all together because the rates would skyrocket because it would be a new source of income for the socialists to buy votes and stay in power.

[TacoSoup]

Originally Posted by CaliRestoration

Exactly. Give credit to tacosoup, I think he may have just predicted how Prop 13 will die.

Well thanks, I guess? After talking to many homeowners I know, even some of the most liberal, almost all were against changing prop 13. They had too much to lose. Many have homes at the beach and/or vacation/income properties. When I asked the same people what if you were grandfathered in many said they’d go for it, more than I thought actually. I figured if I found this out asking 20 +/- friends and family from various backgrounds and income/home levels, political groups much smarter than me probably have this figured out too. Like I said previously it’s only speculation and I’ve never heard it mentioned, but it’s the only way I see it having a realistic chance of passing without political suicide if it doesn’t.

[veritased]

Originally Posted by Tulemutt

AI tax ... right around the corner.

Yeah, I would not worry about that so much.
AI is very A right now... and not very I.

Also gonna be very hard to tax, so to speak.
The way I price it, you won't know where to tax it.
It's an ethereal concept that can be packaged and parceled to avoid any silly taxation attempts.

[CA4Now]

Originally Posted by Scorpion3510

Right, I understand that. I'm saying that there could be a new proposition to rewrite Prop 13 where any new homeowners would not be eligible for its benefits. However, the existing homeowners would be grandfathered in and be able to keep their property tax rates under the old Prop 13 scheme.

If changing the loophole for businesses under Prop 13 can't even be done, there is little chance that anything else can be changed in this proposition.

Public Employee Unions want to change Prop. 13 so busness property tax goes up & up more every year.

[veritased]

Originally Posted by HappyinCali

Dun dun dun

Also, the fact that you put together apple and facebook in the same sentence when talking about valution is comical. Apple is one of the cheapest companies in the S&P by any valuation metric. Except, absolute market cap, which any noob assumes means anything in a vaccuum

haha, ok, no problem HappyinCali, you'll be HappyinAAPL, too... except when you aren't.
Go for it, put your money where your keyboard is, and go long baby.

You don't know me, but I work in this washing machine known as Silicon Valley since the 90s and have been through a few cycles and I know of what I speak by now.

Or I could be wildly wrong.

[CaliRestoration]

Originally Posted by CA4Now

If changing the loophole for businesses under Prop 13 can't even be done, there is little chance that anything else can be changed in this proposition.

Public Employee Unions want to change Prop. 13 so busness property tax goes up & up more every year.

2015 vs 2020, different time, different governor.

[CaliRestoration]

Originally Posted by TacoSoup

Well thanks, I guess? After talking to many homeowners I know, even some of the most liberal, almost all were against changing prop 13. They had too much to lose. Many have homes at the beach and/or vacation/income properties. When I asked the same people what if you were grandfathered in many said they’d go for it, more than I thought actually. I figured if I found this out asking 20 +/- friends and family from various backgrounds and income/home levels, political groups much smarter than me probably have this figured out too. Like I said previously it’s only speculation and I’ve never heard it mentioned, but it’s the only way I see it having a realistic chance of passing without political suicide if it doesn’t.

Just think of it like this.

You could go the legislative route, or put it on the ballot. I think the ballot method would almost assuredly pass. Newsom doesn't even need to take the hit for this.

Could you imagine 51% of super far left California voting to accept a sunset of Prop 13 in exchange for "free" health care presented by a dem super majority?

I could.

The amount of health care PAC money behind it would be crazy.

[veritased]

CaliRestoration,

Especially when you consider that this 51% does NOT own a home. Their current mood of rape the successful hard working folks to appropriate their own stash the quick and dirty way will rule, and so for sure, you'll lose your Prop 13 in exchange for their free health care.

You can absolutely count on it.

[CA4Now]

Originally Posted by CaliRestoration

2015 vs 2020, different time, different governor.

They tried getting this on the 2018 ballot.

And you're comparing the current neophyte, Newsom, with the politically experienced Jerry Brown? Come ON.