Quote:
Originally Posted by JManc
So..social engineering to force people to give up their homes by taxing them out so someone else can move in. That's pretty selfish. This isn't an Applebee's where people are done eating and hogging a table for an hour during a Friday night. These people are not going to live forever and eventually they will pass on and the homes will hit the market. Plus, I think folks like Pedestrian are in a position to where repealing prop 13 won't drive them out of their homes.
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I've said this before but I'll say it again: Here's how and why I bought a second home.
One fine day I wanted to go visit some friends in the suburbs so I went to my car in my building's parking garage I hadn't seen in weeks and found the battery dead for lack of being charged by driving the car. I said to myself, "Self, why do you have this thing?"
At about the same time, a friend came back from Tucson to San Francisco's drippy winter and told me how great it was being in the warm sunny desert. I decided to check it out. I went for a visit. I discovered not only was the weather great but the price of property was such that I could buy a small, quaint home with a mortgage payment of about as much as my garage payment in SF. I bought a home, drove the car to its garage, left it there and stopped paying for a space in SF--net cash flow = no change. The car was even useful in the Tucsion exurbs.
That was 18 years ago now. Prices for everything concerned have escalated--garage spaces in SF, homes in Tucson and especially homes in SF. Might not work now. I'm thinking I should blame millennials who must all be winners in their own minds.