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Old Posted Jul 30, 2019, 9:07 PM
edale edale is offline
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Join Date: Apr 2017
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Quote:
Originally Posted by The North One View Post
Most "young professionals" still can't afford shit and have crap loads of debt before even thinking about a mortgage. Taxing long term residents extreme amounts suddenly would do nothing but rip out average people and hand over a real estate feeding frenzy to the super rich, California would instantly transition into total serfdom instead of just mostly.
Ok, so substitute 'young families' if that makes it better. People start families much later in cities like LA and SF than they do in the Midwest and South. I'm talking about people in their mid-30s who have good careers and are still not able to purchase a house. So it's ok to deny this generation a chance at home ownership, but I'm supposed to feel for people who are sitting on multi-million dollar assets that they purchased for next to nothing in today's terms? If Prop 13 was eliminated, no doubt some people would be forced out of their homes because they wouldn't be able to afford the true tax burden they should be paying. But they could cash out and take their millions and purchase somewhere else. They could buy a block in Detroit and turn it into their own gated community. I don't feel bad for those people. I feel bad for my own generation who is being robbed a chance at home ownership and building wealth of our own.
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