When is the Next CA Housing Price Collapse Supposed to Happen? (renters, tenants)

[veritased]

So glad I am leaving this state.

Newsom will go all AOC on this place.

Lib's do enjoy your nirvana... it's acoming.

[expatCA]

Originally Posted by CaliRestoration

Yup. It's all adding up. CA Health Care for all is coming. How Newsom intends to pay for it is the only question.

He intends to force the residents to pay for it. Who else would????

[Tulemutt]

Originally Posted by expatCA

He intends to force the residents to pay for it. Who else would????

Yes. Why wouldn’t we? As if we don’t already pay (through the roof) for our health care? Who else would pay for anything we consume/use? Martians?

[Ultrarunner]

I believe Prop 13 would not have happened if the Home Owner Exemption was meaningful... or even indexed for inflation.

Think about it...

The 7k was very meaningful when a modest home cost 12 to 15k...

Legislators were all to happy to have the voters decide until they realized it had a real chance of passage... and this is with EVERY major voting block coming out against it... Unions, Public Safety, Teachers, Public Sector Employees... etc.

At the 11th hour the State put a competing measure on the ballot with a higher percentage... it failed.

As the new kid on the block I don't think for one minute my Property Tax would decrease and afraid my long-term neighbors would be hit hard...

So far not a single home in the neighborhood has stayed in the family... I am sure it happens elsewhere but not so much in Oakland.

When I bought the property tax went from $1200 to $8800 but at least with Prop 13 I do know voter approval is required for new assessments... and my inflation adjustment is capped at 2%

[ikoolu]

And wIt till you pull a permit for
A pool or Ddition then these assessors revalue your house and your property taxes numpna couple thousand. I had to happen three times and go sick and tired of huge increases. The. add the bond money cause the voters are to stupid to think that bonds don’t cost much

[veritased]

The bubble has already started deflating. What CNBC doesn't know or want to tell you amateur investors and real estate speculators is that the Valley is done for. The lack of innovation that would fuel the future growth of FANG or whatever they call it today is shocking once you peel back the hype layers. Theranos may be the worst scam in the Bay area, but alot of the valuation in Facebook and Apple will be disappeared once people take a sober look at their roadmap. Google is one of the few who can survive a bit of the coming nuclear winter with their advertising business model. But even they are bankrupt on the innovation front.

And once the equity shares that have created this bubble lose their air pressure, this soap bubble will start imploding.
You'll see.

[CaliRestoration]

Originally Posted by expatCA

He intends to force the residents to pay for it. Who else would????

Of course and if you look up and down the roll of local, state taxes, the juiciest bite could come from defeating Prop 13 "in exchange" for CA Health Care for All. There literally isn't anything else that Newsom could tax that would provide enough revenue to at least partially fund it. 2020 is going to be interesting with the Split Roll, I'd love to see what happens to secondary/rental properties.

[CaliRestoration]

Originally Posted by Ultrarunner

I believe Prop 13 would not have happened if the Home Owner Exemption was meaningful... or even indexed for inflation.

Think about it...

The 7k was very meaningful when a modest home cost 12 to 15k...

Legislators were all to happy to have the voters decide until they realized it had a real chance of passage... and this is with EVERY major voting block coming out against it... Unions, Public Safety, Teachers, Public Sector Employees... etc.

At the 11th hour the State put a competing measure on the ballot with a higher percentage... it failed.

As the new kid on the block I don't think for one minute my Property Tax would decrease and afraid my long-term neighbors would be hit hard...

So far not a single home in the neighborhood has stayed in the family... I am sure it happens elsewhere but not so much in Oakland.

When I bought the property tax went from $1200 to $8800 but at least with Prop 13 I do know voter approval is required for new assessments... and my inflation adjustment is capped at 2%

Have you taken steps to reduce your exposure? From what I remember you said you own multiple rentals in the East Bay.

[HappyinCali]

Originally Posted by veritased

The bubble has already started deflating. What CNBC doesn't know or want to tell you amateur investors and real estate speculators is that the Valley is done for. The lack of innovation that would fuel the future growth of FANG or whatever they call it today is shocking once you peel back the hype layers. Theranos may be the worst scam in the Bay area, but alot of the valuation in Facebook and Apple will be disappeared once people take a sober look at their roadmap. Google is one of the few who can survive a bit of the coming nuclear winter with their advertising business model. But even they are bankrupt on the innovation front.

And once the equity shares that have created this bubble lose their air pressure, this soap bubble will start imploding.
You'll see.

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

[Finper]

Originally Posted by CaliRestoration

Of course and if you look up and down the roll of local, state taxes, the juiciest bite could come from defeating Prop 13 "in exchange" for CA Health Care for All. There literally isn't anything else that Newsom could tax that would provide enough revenue to at least partially fund it. 2020 is going to be interesting with the Split Roll, I'd love to see what happens to secondary/rental properties.

I'm not sure Newsome has a balls to try that. Is his ego really that big that he thinks he can pull that off and stay in office? I think he is def going to attempt health care for all but Prop 13? Guess we'll see what horror is coming down the pike for Ca in the next years.