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A comment on How California Became America’s Housing Market Nightmare. Parent comment

Re:How California Became America’s Housing Market Nightmare by nerfhammer on Wednesday November 06, 2019 @01:22PM (#21465334)
You're saying that taxes on a 2 million dollar windfall is unfair.
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Re:How California Became America’s Housing Market Nightmare by malvosenior on Wednesday November 06, 2019 @01:38PM (#21465546)
It's not a windfall if you live there for 35 years and don't sell. It's just your home.
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Re:How California Became America’s Housing Market Nightmare by rcpt on Wednesday November 06, 2019 @07:45PM (#21469298)
Just because it's not a cash asset doesn't mean it's not an asset. There are myriad of financial instruments to work with.

Increased property values translate to increased borrowing power.

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Re:How California Became America’s Housing Market Nightmare by malvosenior on Wednesday November 06, 2019 @08:08PM (#21469439)
Why should people be forced to get in debt to keep the house they've already paid for?
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Re:How California Became America’s Housing Market Nightmare by nerfhammer on Wednesday November 06, 2019 @10:03PM (#21470026)
Why do they deserve permanently lower taxes?
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Re:How California Became America’s Housing Market Nightmare by malvosenior on Thursday November 07, 2019 @08:19AM (#21472884)
They're taxed on what they paid.
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Re:How California Became America’s Housing Market Nightmare by akavi on Wednesday November 06, 2019 @01:47PM (#21465630)
Make the back taxes due on sale then. Simple.
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Re:How California Became America’s Housing Market Nightmare by rcpt on Wednesday November 06, 2019 @07:44PM (#21469289)
That would really exacerbate the lock in effect
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Re:How California Became America’s Housing Market Nightmare by masonic on Thursday November 07, 2019 @04:31AM (#21471717)
"Windfall" 8s an odd term to use.

The problem is that long term capital gains are not indexed to inflation, let alone in correlation to increasing RE values. If you index the cap gains tax to inflation alone, you'd find a huge added turnover in properties.

Prop 13 provisions can be altered anytime by another initiative OR by the Legislature. In either case, only a simple majority is needed for voter passage. The Legislature has been under Democrat control for over 22 years. Ask yourself why no change has even been attempted.

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