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How did an entire state price itself out for entry-level home buyers?

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Re: How did an entire state price itself out for entry-level home buyers?

#161

Post by hilop »

vonmoltke wrote: post #92
ScottBurson wrote: post #72

Earlier quoted context omitted.

Actually the people who would feel the disincentive most strongly are speculators. Those are the people we want to discourage. The whole point is to slow the growth of prices, by giving cities an incentive to increase supply. Higher prices are the biggest disincentive to purchasers.

I have brought this up in multiple Prop 13 discussions, including I think the one you are referring to where you pitched your proposal. My opinion is that the proper fix for Prop 13 is to modify it to match Florida's much saner[1] practice of only providing the appreciation cap to owner-occupied primary residences. That speculators, investors, and landlords get to benefit from taxable value caps is bullshit, IMNSHO.…

That's an arbitrary advantage given to homeowners over renters (who pay the landlord's taxes)

Re: How did an entire state price itself out for entry-level home buyers?

#162

Post by hilop »

zeveb wrote: post #101
floatrock wrote: post #79

Earlier quoted context omitted.

Lets say a migrant population does in fact have some "dangerous idea" that the locals don't want. How big does that migrant population need to be before they have a sizable enough voting majority? Do the couple thousand people who moved from SF to Oregon or Seattle really really have the voting numbers to sway politics that much? It's the idea that's contagious, not the people. Disenfranchising transplants does not s…

> Do the couple thousand people who moved from SF to Oregon or Seattle really really have the voting numbers to sway politics that much? It depends on how close the numbers were beforehand, right? > Disenfranchising transplants does not stop the idea. If they retain the franchise in their former states, then they're not disenfranchised. I'm frankly astounded that so many people have reacted so negatively to this idea…

Your idea makes no sense, it assigns blame to 2% of the population for turning the preexisting 49% into a majority.

Re: How did an entire state price itself out for entry-level home buyers?

#163

Post by hilop »

JustSomeNobody wrote: post #69

Can we just set some explosive along the fault line and end this state already? How is it possible that this largely Democrat-leaning state can be so pro-wealth/anti-middle class and poor?

Democrats are neoliberal now. Baby boomers grew up

Re: How did an entire state price itself out for entry-level home buyers?

#164

Post by rhizome »

ArkyBeagle wrote: post #123
rhizome wrote: post #86

Earlier quoted context omitted.

Someone in the past few months was describing this situation as a return to feudal concepts, where the only most practical way to buy a house is to live with your parents until they die and then inherit it.

Prior to the Montgomery G.I. Bill, people lived with their parents until they got married - if they could afford it.

Now they get to live with them after they get married, too!

Re: How did an entire state price itself out for entry-level home buyers?

#165

Post by sbov »

closeparen wrote: post #136
sbov wrote: post #43

Earlier quoted context omitted.

IIRC most counties let you transfer your prop 13 status to a smaller dwelling. But I think it has to be within the same county. I'm not sure how accurate that is, it was just something my mom mentioned in passing a while back. She lives in a 4 bedroom in San Jose she bought in the early 70's and has been considering downsizing. However, her property taxes are so low it wouldn't make sense to make the switch to a cond…

>prop 13 was passed because of rapidly increasing property values The owners who passed it are content to sit on their houses in perpetuity. If property values had continued to rise past owners' appetite for property tax bills, CA homes would be occupied by people under financial pressure to sell them. It seems reasonable to think that would leave prices lower than where they are today. It wouldn't stop the pressure,…

Why is a relief valve for tech workers more important than the people you would be displacing?

I agree that, on average, prop 13 should go. But you cannot do it overnight. It would likely cause an over correction and a ton of other problems - including having owners who could afford their house under the final price, but still having to sell since counties tend to be slow at lowering property taxes. We saw it during the housing crash, where some cities would outright refuse to reduce property tax bills.

If anything, there should be a gradual phase out. Or, let people keep their prop 13 status as long as they downgrade, and no prop 13 for those that "upgrade".

This would slowly phase out those who are in an advantageous position. It will be slower, but it seems like a fair compromise to correct the problem.

Re: How did an entire state price itself out for entry-level home buyers?

#166

Post by EduardoBautista »

Frogolocalypse wrote: post #138

As an Australian, I always muse at what people consider expensive. http://www.globalpropertyguide.com/most-expensive-cities There is only one city from the US on that list (New York) of a hundred cities. Sydney Australia is 18th. And you want to talk about bubbles? http://www.economist.com/blogs/dailychart/2011/11/global-hou... Australia tops the list (and Sweden, apparently). That list indicates the price of real-es…

There is something that is not right with that list. Mexico City is on that list but not San Francisco? I have been to Mexico City and rent is about a third for a similar sized apartment in San Francisco.

Re: How did an entire state price itself out for entry-level home buyers?

#167

Post by talmand »

st3v3r wrote: post #91
talmand wrote: post #48

Earlier quoted context omitted.

>> Environmental Impact Review Does that fit under performance standards of the quality of the build?

Yes.

Oh, ok, can someone please explain to me how an environment impact review pertains to the build quality of the house?

Re: How did an entire state price itself out for entry-level home buyers?

#168

Post by st3v3r »

talmand wrote: post #167
st3v3r wrote: post #91

Earlier quoted context omitted.

Yes.

Oh, ok, can someone please explain to me how an environment impact review pertains to the build quality of the house?

It goes to maintaining the environment around the house.

Re: How did an entire state price itself out for entry-level home buyers?

#169

Post by st3v3r »

closeparen wrote: post #137
st3v3r wrote: post #88

Earlier quoted context omitted.

So how do they get that wealth while still being able to live in their home? Or, to put it another way, why should they no longer be able to live in their home just because the market went crazy?

>why should they no longer be able to live in their home just because the market went crazy The market didn't go crazy, it saw an uptick in demand. They should be booted because their homes should be replaced with high-rises with enough room for them AND the new demand.

Again, why? What did the people who bought that house do to deserve getting kicked out of it?

Re: How did an entire state price itself out for entry-level home buyers?

#170

Post by linkregister »

toomuchtodo wrote: post #119
linkregister wrote: post #115

Earlier quoted context omitted.

It is actually counter to house owners' interests to block further development. 1. Their children won't be able to continue to live in the area once they become adults (unless they get lucky with a high-income job). 2. If they ever want to down-size and move into a smaller house or apartment after retirement, it won't be economically viable since the smaller place will still be expensive. The only way to adjust to a…

I'm unsure which Boomers you've interacted with, but anecdotally, the ones I've talked to a) don't care if their kids can live where they grew up and b) they plan on selling their home for as much as they can get for it and then move to a low tax, low cost of living area when they retire/downsize (some to Florida, some to Central America [either Panama or Belize], one person to Thailand). This is to be expected when…

This notion of moving to low-cost countries or regions is the vast minority of retired persons. Most stay where their friends and family reside.
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