Re:JPMorgan to spend $1B on rental homes in the US to become...
by treeman79 on Saturday December 31, 2022 @01:54PM
(#34199480)
There was also the whole issue of older people being forced out of their homes due to the rising property taxes. Turns out they vote in high numbers.
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Re:JPMorgan to spend $1B on rental homes in the US to become...
by rcpt on Saturday December 31, 2022 @02:25PM
(#34199773)
Lies.
Since 1977 (before Prop 13) we've had the California Tax Postponement Program. Low income seniors, the disabled and the blind can defer taxes indefinitely. They have zero pressure from the state to move.
Re:JPMorgan to spend $1B on rental homes in the US to become...
by seanp2k2 on Saturday December 31, 2022 @03:21PM
(#34200328)
Also, the biggest winners from prop 13 are businesses like Disney: https://www.curbed.com/2020/10/prop-15-california-property-t...
Meanwhile, anyone who didn’t buy a house or property for a business 20+ years ago is priced out of the market, so we have tons of low-quality stores and businesses that are insulated from competition. It’s interesting how many free market advocates will throw their values out the window when it benefits them to do so.
Re:JPMorgan to spend $1B on rental homes in the US to become...
by rcpt on Saturday December 31, 2022 @05:27PM
(#34201392)
Right. And consumers get none of this benefit. When was the last time you scored cheap gas because of station's property tax?
Re:JPMorgan to spend $1B on rental homes in the US to become...
by seanp2k2 on Saturday December 31, 2022 @03:17PM
(#34200312)
It’s hard to have a ton of sympathy for people paying very little tax on their 7-figure property. Sell it and move anywhere else…but the real pro move is to just rent it out and live somewhere else. We have neighbors in our Silicon Valley suburb who live in RVs in their driveway so they can rent the entire house and still “live” there. Great retirement plan / grift that will never be available to younger generations.