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Old 08-24-2008, 04:28 AM
 
Location: Malibu/Miami Beach
1,070 posts, read 2,883,783 times
Reputation: 427

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Quote:
Originally Posted by CESpeed View Post
How d oyou benefit? Let's see...based on the above information I'll surmise you live in an affluent area which means if you call the police, they'll actually come. Along with fire fighting services, beautifully manicured parks, working street lights. How do you think that all gets paid for?
I can show you three houses in a row all have pools,tennis courts and a sea view all built on similar size plots.They all use the same cops,fire dept,public schools and streetlights.
But the property tax they pay is radically different(from $200,000 to $50,000 per year),one is a brand new house another older but remodeled and one unchanged from when it was built.
Property tax is a wealth tax pure and simple.
Of course the trick is to buy the older house and rebuild it.
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Old 08-24-2008, 07:41 AM
 
Location: Guadalajara, MX
3,022 posts, read 5,543,912 times
Reputation: 2301
Hold on, let me cry a river for her...

I'm sure the rest of the population wishes they could afford a 9.2m house. Waah, life is awful.
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Old 08-24-2008, 08:52 AM
 
Location: Hot Springs, AR
5,612 posts, read 13,241,951 times
Reputation: 3740
Yes, stocks can outperform real estate, but given a choice I'd choose real estate because it's stabler than stocks. Especially if you don't overspent trying to get biggest and brightest because you must outdo the Jones'. In the older areas of LA, people paid $30K - $50K for houses that are now selling for over $500K+.
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Old 08-25-2008, 09:22 AM
 
Location: So Cal
38,759 posts, read 37,938,490 times
Reputation: 39594
Quote:
Originally Posted by impala666 View Post
Like from March 2000 to October 2002.
Note the use of the word Historically


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Old 05-12-2009, 06:11 AM
 
Location: Malibu/Miami Beach
1,070 posts, read 2,883,783 times
Reputation: 427
Quote:
Originally Posted by ndfmnlf View Post
Also, if the property tax rate is 1%, but your property appreciates even conservatively at 3% per year (simply matching inflation), you should still be ahead by 2%.
This was 08/23/08 how the times have changed!!
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