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Old 03-20-2018, 08:58 PM
 
27,483 posts, read 56,516,150 times
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Quote:
Originally Posted by expatCA View Post
Not many kids want their parents living with them ............ again.
This may be unique to where I grew up...

I'm just about the only one from my High School still in the old neighborhood... I bought a home close to my parents.

To the last one... as the parents of my friends passed away... not a single child was interested in keeping, let alone living in Mom and Dad's house... mostly 1940's-50's 2 bedroom 1 bath, 1000 square feet homes... all the homes sold for what they could get.

In cases where children inherit a home the more usual scenario is they inherit a portion equally... which is fine if they can agree to keep owning it together but how often do adult/married siblings agree on financial matters?

Just helped a coworker that inherited a modest home with her two brothers... the brothers have very nice homes in the 1.5+ million dollar areas... what happened is my co-workers share of 1/3 kept her parents assessment and the 2/3 she bought from her brothers went to market value...

There never would have been a Prop 13 had California retained a meaningful Home Owner Exemption like many other States have... and then business property or non-owner property would have continued to be taxed on the Assessor's opinion of value.
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Old 03-22-2018, 02:09 PM
 
1,117 posts, read 386,514 times
Reputation: 787
Quote:
Originally Posted by BizrulesSD View Post
P13 doesn't reduce supply since they would still have to live somewhere. It might make for less turn over but not less supply.

Less supply of houses for sale.
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