Median price of a single family home in San Diego: $612,750 (Los Angeles: townhouse, neighborhoods)

[stablegenius]

Originally Posted by metoque

I understand that there's history for why they implemented it, but it needs to change.

It's because property tax is "value based" that we're in this predicament in the first place. You don't discriminate against one class of homeowner in order to protect another. Take away the value based component of the tax, make it equally apportioned, and the issue goes away...unless of course you're the one who pays $1200/year in property tax when it should be more like $6000/year, but that was clear inequity that needs to be remedied.

I understand where you're coming from and I empathize to some extent, but I don't think abolishing prop 13 would have the effect you think. I also don't think prop 13 is to blame for the ridiculous home prices. I think it's largely due to investors. To me that's even less fair because you really have people buying who have no interest in living in the home. They just buy, then jack up the rent as often as they can. I'm all for investment property, but there have to be some kind of limits in place to protect people who just want to buy a home to live in

[Electrician4you]

Originally Posted by garek007

I understand where you're coming from and I empathize to some extent, but I don't think abolishing prop 13 would have the effect you think. I also don't think prop 13 is to blame for the ridiculous home prices. I think it's largely due to investors. To me that's even less fair because you really have people buying who have no interest in living in the home. They just buy, then jack up the rent as often as they can. I'm all for investment property, but there have to be some kind of limits in place to protect people who just want to buy a home to live in

Lots of investors pump and dump. Truthfully you want investors. Most keep their properties nice. I can tell you my rentals are immaculate and well maintained.
Not all investors jack up rent. Right now my rental is one of the best out there in the city it’s in and it’s the lowest priced for its size and condition. It’s been completely remodeled.

There is no way to limit the housing market in the way you describe. Unless it’s subsidized you cannot legislate selling affordable housing to the the public. Then it becomes a issue as to who gets the subsidy? Where does it stop? Being a homeowner isn’t a right nor does someone owe anyone affordable housing

Gett8ng rid of P13 would be disastrous for EVERY property owner in California. The only people who will win are the locusts (politicians) in the government. You think you see high taxes now? Lol wait till your taxes are based on some pulled out of someone’s azz valuation.
Talk to people who owned houses here before P13 went in effect,

[JohnAlt]

I agree with Proposition 13, but why can assessments be lowered during a downturn? If someone can afford what they paid they can afford the assessment on THAT price. Seems inconsistent to allow lowering but not raising based on the market.

[1AngryTaxPayer]

Originally Posted by JohnAlt

I agree with Proposition 13, but why can assessments be lowered during a downturn? If someone can afford what they paid they can afford the assessment on THAT price. Seems inconsistent to allow lowering but not raising based on the market.

People lose jobs, lose income,close their businesses, no overtime in a recession. Good for you if you never experienced it. Empty bank owned houses get no one anything.

[Ultrarunner]

Originally Posted by garek007

I understand where you're coming from and I empathize to some extent, but I don't think abolishing prop 13 would have the effect you think. I also don't think prop 13 is to blame for the ridiculous home prices. I think it's largely due to investors. To me that's even less fair because you really have people buying who have no interest in living in the home. They just buy, then jack up the rent as often as they can. I'm all for investment property, but there have to be some kind of limits in place to protect people who just want to buy a home to live in

We had that and it worked really well until it didn't.

Back when a modest home could be bought for 12 to 15k the Homeowner's Exemption of $7000 meant a lot...

As prices rose, there was a push to index the HO Exemption for inflation that got no where.

Just think if the Home Owner's Exemption still equaled 50% of the cost of a median home there would never have bee a Prop 13.

The legislature was all too happy to let the Voters decide... never thinking a Grass Roots, Ill funded campaign with every major Government and Union Group in oppositions would stand a chance....

Prop 13 was a clear example of Democracy in Action... my only regret was not being old enough at the time to have voted for it.

The only way for prices to come down is to curb Desire/Demand and/or the Money Supply...

[Ultrarunner]

Originally Posted by garek007

I understand where you're coming from and I empathize to some extent, but I don't think abolishing prop 13 would have the effect you think. I also don't think prop 13 is to blame for the ridiculous home prices. I think it's largely due to investors. To me that's even less fair because you really have people buying who have no interest in living in the home. They just buy, then jack up the rent as often as they can. I'm all for investment property, but there have to be some kind of limits in place to protect people who just want to buy a home to live in

We had that and it worked really well until it didn't.

Back when a modest home could be bought for 12 to 15k the Homeowner's Exemption of $7000 meant a lot...

As prices rose, there was a push to index the HO Exemption for inflation that got no where.

Just think if the Home Owner's Exemption still equaled 50% of the cost of a median home there would never have bee a Prop 13.

The legislature was all too happy to let the Voters decide... never thinking a Grass Roots, Ill funded campaign with every major Government and Union Group in oppositions would stand a chance....

Prop 13 was a clear example of Democracy in Action... my only regret was not being old enough at the time to have voted for it.

The only way for prices to come down is to curb Desire and/or the Means to Pay for it...

[JohnAlt]

Originally Posted by 1AngryTaxPayer

People lose jobs, lose income,close their businesses, no overtime in a recession. Good for you if you never experienced it. Empty bank owned houses get no one anything.

People get promotions, raises, and lots of overtime when times are good. Yet their assessments don't go up (which I'm fine with). But not as fine with having their cake and eating it too.

[T. Damon]

You just have to wonder if everyone else just thinks we are insane to live here. I mean San Diego is nice and all but the median price will not even get you this falling down cracker box in our neighborhood.

https://www.zillow.com/homedetails/2.../17075754_zpid

If I was young and starting a career and family I couldn’t see choosing this city as one with a bright future with possibilities for us which is kind of sad.

[LuvSouthOC]

Originally Posted by T. Damon

You just have to wonder if everyone else just thinks we are insane to live here. I mean San Diego is nice and all but the median price will not even get you this falling down cracker box in our neighborhood.

https://www.zillow.com/homedetails/2.../17075754_zpid

If I was young and starting a career and family I couldn’t see choosing this city as one with a bright future with possibilities for us which is kind of sad.

That beautiful "craftsman" has that nice "weathered" Cape Cod look.

[Losfrisco]

Originally Posted by T. Damon

You just have to wonder if everyone else just thinks we are insane to live here. I mean San Diego is nice and all but the median price will not even get you this falling down cracker box in our neighborhood.

https://www.zillow.com/homedetails/2.../17075754_zpid

If I was young and starting a career and family I couldn’t see choosing this city as one with a bright future with possibilities for us which is kind of sad.

What makes all this even worse is when San Diego blows easy opportunities for economic growth. We lose on tourism to other cities on the coast that have worse weather and are less tourist friendly. There should be non stop flights from SAN to every cold weather MSA over 1 million in the country and every major city in Canada.

Remember the San Diego Amazon HQ2 thread? Almost zero enthusiasm, as Raleigh, Indianapolis, and Columbus advance. If it's going to be this expensive to live here, we need LA/Bay Area economic opportunities. We are now paying their prices in a third tier economy.