patrick.net

Big_Johnson says

I gave up a long time ago to believe things for the avg joe will get better. They get worse every year instead.

Stolen elections have consequences.

Seems around Santa Cruz, they have been trying to lock in 'lower rates at higher prices' and maybe just now the prices are starting to stabilize or drop a very little. Prices have been surprisingly robust. I am seeing more for sale signs driving around. So, the 'lock in low rates at higher prices' might be countered by the 'sell now to get peak price' group? Guess we'll see over the next couple of months.

GNL says

Headset, do you live in the DMV?

I live on the Virginia Peninsula. I have heard Eastern Shore folks call their area "DelMarVa" but have not heard that "DMV" term before. I presume that is Delaware-Maryland-Virginia, but I will add that Virginia is so varied and unique that it should not be grouped with puny and colorless places like Maryland and Delaware. Heck, even western Maryland would like to break off and join West Virginia.GNL says

The Missing Middle Act allows a builder to go into any neighborhood -> purchase a house -> knock it down -> build an apartment building in-between 2 houses.

Well, not quite any neighborhood. True, the builders can put up by right some 2-6 plex buildings in places zoned SFH, but there are always restrictions to keep them away from desirable neighborhoods, such as off-street parking requirements, nearness to a metro line, and limitations on how many can actually be built per 5 years. The new structure also cannot be bigger than the SFL it took down. Because of these restrictions, I would suspect that most inbuilding will be tearing down a 1950s era house in a moderate neighborhood and replacing it with a duplex. Maybe in a more upscale area, they can convert a 3000 sqft home into a 1500 sqft each duplex. Interesting to see if anything is done in a place like Old Glebe.

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Oct 2022 bought for $345,000: https://www.zillow.com/homedetails/7680-Shadow-Lake-Dr-Panama-City-Beach-FL-32407/305989636_zpid/

Now listed at $355,000

Already they dropped the price $20,000

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Big_Johnson says

Even on a conservative website like Patnet people want to get rid of prop 13 so that commifornia can charge higher property taxes.

Commie Prop 13 was designed for rich not to pay their fair share and looting poor and middle classes. No one is paying property taxes in CA who are at the middle to top on the Prop 13 ponzi scheme and bring the immorality of different rates for the same type of properties of neighbors. Its like "All People are Equal, but Some People are More Equal than Others".
Repeal the 1978 Prop 13 along with all its evil variants and replace a uniform tax like every other state in USA. Because of the evil Prop 13 and lack of property taxes gov and Prop 13 supporters hiked EVERY other tax in the state like income, sales, traffic ticketing, gas etc. and messed up the whole state.
There is a cost of communism for rich, someone has to pay.
By get-ridding of Prop 13 will cool off the properties as everyone is on hook for taxes.

Do you think for an instant that by repealing Prop 13, the other taxes would decrease?

Absolutely, fucking not. The politicians in Sacramento would spend the extra taxes on the homeless and illegals.

There is no limit to the amount of taxes they want.

The California budget deficit this year is forecasted at $34 billion. They are looking at increasing taxes just to cover their already excessive spending.

Shaman says

Houses in my hood in Orange County keep going slightly up. Most are over a million now, with the basic 3/2 models at $950k.
I don’t understand it, with the high rates. Except that people with money like certain neighborhoods and can pay.

Duh! it must be the (hidden double digit) inflation and lack of new buildings. Its not just CA, I guess its everywhere. This is more look like what I have seen else where double digit inflation. It happens silently, unfortunately most can not see until its too late. Only rich can benefit them selves all the time. This is where the gap among rich and poor widens.

Misc says

Do you think for an instant that by repealing Prop 13, the other taxes would decrease?

Absolutely, fucking not. The politicians in Sacramento would spend the extra taxes on the homeless and illegals.

There is no limit to the amount of taxes they want.

The California budget deficit this year is forecasted at $34 billion. They are looking at increasing taxes just to cover their already excessive spending.

I completely agree, now there are two enemies for middle and poor. Both rich and gov to extract out everything.

“ Do they have school desegregation like they did when I went to public middle and high school in Florida ? Do they allow students from poor districts to attend public schools in liberal white and Asian neighborhoods / zip codes ? Do they bus in the poorer and less affluent students ?”

No, but zone transfers are available and used by some percentage of the kids. No busing tho. The parents have to take them to school. That leaves out the hood rats because their parents are pieces of shit who won’t make that kind of commitment. And also kids on transfer can have their approval revoked for bad behavior, so with that Sword of Damocles hanging over them, the transfer kids are very well-behaved!

As far as the demographics: about 50% white, 25% Asian, 20% Latino, 5% black. And a lot of kids are a mix of one or more races, including my own who are 1/4 Asian.
D1 school in several sports, including baseball. I’m proud of my freshman boy for making the team.

Blue says

lack of new buildings. Its not just CA, I guess its everywhere.

It has not recovered from 2008 housing collapse. And I am not sure why besides zoning reasons and developers not wanting (or economically unable) to build more affordable housing. And the population in the USA continues to increase.

Wolfman at Wolf Street website has been reporting on this especially over the last three years.

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Shaman says

50% white, 25% Asian,

Sounds like that "no busing" allows easily for them to maintain this demographic. I'm surprised the "no busing" policy has not been legally challenged by Democrats and groups like the NAACP.

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ad says

Blue says

lack of new buildings. Its not just CA, I guess its everywhere.

It has not recovered from 2008 housing collapse. And I am not sure why besides zoning reasons and developers not wanting (or economically unable) to build more affordable housing. And the population in the USA continues to increase.

Wolfman at Wolf Street website has been reporting on this especially over the last three years.

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Homebuilders got burned badly in the last housing boom. Some homebuilders downsized 80% of their workforce. This is the reason why there was a lack of building as we came out of the Great Recession.

Then the cost of materials and labor went through the roof after the pandemic. As prices of materials came down, borrowing cost is too expensive to borrow. This explains why the builders just discount prices and push as much inventory out as possible the last few months. Construction loans are mostly adjustable, and the prime rate is around 8.5% now.

Big_Johnson says

Bigger luxurious homes. There is no money in building affordable tiny shacks.

I understand as its all about maximizing profit in dollars so you have to build as big and luxurious of a home that can sell. And there is enough demand for this type of housing for this construction strategy to thrive.

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Big_Johnson says

“ And I am not sure why besides zoning reasons and developers not wanting (or economically unable) to build more affordable housing.”

A builder doesn’t give two shits about affordable housing. A builder runs a business and focuses on high margin products. Bigger luxurious homes. There is no money in building affordable tiny shacks.

The way I understand "affordable housing" of x% (typically 10-20%!) will be charged from the rest (100-x)% to offset x% plus some incentives from gov. It should not cost any to the builder though its a bit overhead in terms of overall project completion time which is negative as it leads to less profitable.

HeadSet says

Well, not quite any neighborhood. True, the builders can put up by right some 2-6 plex buildings in places zoned SFH, but there are always restrictions to keep them away from desirable neighborhoods, such as off-street parking requirements, nearness to a metro line, and limitations on how many can actually be built per 5 years. The new structure also cannot be bigger than the SFL it took down. Because of these restrictions, I would suspect that most inbuilding will be tearing down a 1950s era house in a moderate neighborhood and replacing it with a duplex. Maybe in a more upscale area, they can convert a 3000 sqft home into a 1500 sqft each duplex. Interesting to see if anything is done in a place like Old Glebe.

DMV = DC-Maryland-Virginia. The border area.

Good information. It doesn't sound so terrible now.

Blue says

Misc says

Do you think for an instant that by repealing Prop 13, the other taxes would decrease?

Absolutely, fucking not. The politicians in Sacramento would spend the extra taxes on the homeless and illegals.

There is no limit to the amount of taxes they want.

The California budget deficit this year is forecasted at $34 billion. They are looking at increasing taxes just to cover their already excessive spending.

I completely agree, now there are two enemies for middle and poor. Both rich and gov to extract out everything.

They're in cahoots with each other.

$325 a month for property tax: https://www.zillow.com/homedetails/1621-Wood-Lake-Santa-Ana-CA-92705/2057583706_zpid/

Its about 1.2% rate or a 12 mil rate

I read the average mil rate is 8.2 in Los Angeles area. In the Florida panhandle it is 7.

Granted, Florida panhandle has HOA fees and also high property insurance whereas for a $300,000, the annual property insurance is $2,000.

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Big_Johnson says

Prop13 is designed so that nobody’s property taxes go out of hand. Renters hate it.
As soon as you become a homeowner you love it. Do some people who inherited prop13 on a multi million dollar home benefit greatly from prop13? Sure. Let them. Who gives a fuck. If I am winning by having a cap on tax increases I am fine with someone else winning more. If we touch prop13 there is a good chance this commiefornia administration will keep raising the shit out of our property taxes. Raising taxes is almost never a good thing.

"hate" and "love" should not be part of the fair taxation system. There is no such thing like absolute fair system but as long as its reasonable fair and sustainable for the most, its good for everyone. CA 1978 Prop13 is THE worst EVIL. I doubt any big business, entire coastal line properties and McMansions paying any taxes at all under Prop 13.

Big_Johnson says

“ And I am not sure why besides zoning reasons and developers not wanting (or economically unable) to build more affordable housing.”

A builder doesn’t give two shits about affordable housing. A builder runs a business and focuses on high margin products. Bigger luxurious homes. There is no money in building affordable tiny shacks.

The COST of land, materials, labor and permit fees doesn’t allow builders to build affordable housing. Numbers don’t pencil out for them. It’s simple as that.

Want to get rich(er) the easy way? Simply own assets and then create shortages.

GNL says

There is no limit to the amount of taxes they want.

The California budget deficit this year is forecasted at $34 billion. They are looking at increasing taxes just to cover their already excessive spending.

And California has debt ratings that are much worse than Florida, Texas and other major states. So I hope they are not going to have to raise taxes much to remain solvent enough to maintain (or improve) their current ratings.

https://www.treasurer.ca.gov/ratings/current.asp

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GNL says

Want to get rich(er) the easy way? Simply own assets and then create shortages.

@GNL,

How many people have the ability to do this?

Eman says

GNL says

Want to get rich(er) the easy way? Simply own assets and then create shortages.

GNL,

How many people have the ability to do this?

It can't be done through regulations? Embargoes? How was the covid conspiracy able to be pulled off? If regs require houses be built to certain size or certain requirements just like you mentioned above...

GNL says

Eman says

GNL says

Want to get rich(er) the easy way? Simply own assets and then create shortages.

GNL,

How many people have the ability to do this?

It can't be done through regulations? Embargoes? How was the covid conspiracy able to be pulled off? If regs require houses be built to certain size or certain requirements just like you mentioned above...

Basically the oligarchs and their sphere of people. The folks on Patnet and everyone else are nothing. Either play by their rules and try to get ahead, or we can keep whining and bitching and be a W2 slave all our lives.

Eman says

Basically the oligarchs and their sphere of people. The folks on Patnet and everyone else are nothing. Either play by their rules and try to get ahead, or we can keep whining and bitching and be a W2 slave all our lives.

And hope the alligator eats you last. Over the last 5-6 years, just who do you think has gained more power and influence? How did they do it...by being quiet? If I remember correctly, they burned down cities, protested, stole elections etc. What they didn't do was act industrious.

Eman, what you simply do not seem to understand is that money is not the most important thing in the world.

Blue says

Big_Johnson says

“ And I am not sure why besides zoning reasons and developers not wanting (or economically unable) to build more affordable housing.”

A builder doesn’t give two shits about affordable housing. A builder runs a business and focuses on high margin products. Bigger luxurious homes. There is no money in building affordable tiny shacks.

The way I understand "affordable housing" of x% (typically 10-20%!) will be charged from the rest (100-x)% to offset x% plus some incentives from gov. It should not cost any to the builder though its a bit overhead in terms of overall project completion time which is negative as it leads to less profitable.

@Blue,

CA puts all kinds of red tapes and makes the cost of everything sooo expensive. Then they want builders to subsidize 20% of new build to low income housing, or pay a big fee for it, which makes the cost to build even higher. It’s high to the point that the builders have to be able to sell for a lot of money to be profitable, or they wouldn’t build at all.

CA has been having low income housing is due to all the issues mentioned above. Giving the state more money by repealing Prop 13 wouldn’t fix anything.

Eman says

CA puts all kinds of red tapes and makes the cost of everything sooo expensive. Then they want builders to subsidize 20% of new build to low income housing, or pay a big fee for it, which makes the cost to build even higher. It’s high to the point that the builders have to be able to sell for a lot of money to be profitable, or they wouldn’t build at all.

You can expect a hell of a lot more of this kind of thing. Didn't you just post something a day or 2 ago about down-payment give aways from the government? Are you in favor of that?

GNL says

Eman says

Basically the oligarchs and their sphere of people. The folks on Patnet and everyone else are nothing. Either play by their rules and try to get ahead, or we can keep whining and bitching and be a W2 slave all our lives.

And hope the alligator eats you last. Over the last 5-6 years, just who do you think has gained more power and influence? How did they do it...by being quiet? If I remember correctly, they burned down cities, protested, stole elections etc. What they didn't do was act industrious.

Eman, what you simply do not seem to understand is that money is not the most important thing in the world.

These are all conspiracy theories. I believe some, but not all. All I know is that there are tax codes to benefit investors, and there are tax codes to all the W2 folks. We have a choice of being self-employed, or W2. The chose the former and couldn’t be happier. All the other stuff, I have no control over so why worry about something I can’t control?

I know half of my siblings, nieces and nephews including my daughter, and half on my wife’s side are pure blood. We share info and let others decide what to do with it. We have no control over their decisions.

GNL says

Eman says

CA puts all kinds of red tapes and makes the cost of everything sooo expensive. Then they want builders to subsidize 20% of new build to low income housing, or pay a big fee for it, which makes the cost to build even higher. It’s high to the point that the builders have to be able to sell for a lot of money to be profitable, or they wouldn’t build at all.

You can expect a hell of a lot more of this kind of thing. Didn't you just post something a day or 2 ago about down-payment give aways from the government? Are you in favor of that?

I’m NOT in favor of it. I think it’s bad timing. This will get the poor folks in trouble even more. The intention is good, but the consequences will be bad, but I have no control over it. Why worry, or get worked up over something I can’t control?

Onvacation says

Big_Johnson says

I gave up a long time ago to believe things for the avg joe will get better. They get worse every year instead.

Stolen elections have consequences.

preaching to the query

FortwayeAsFuckJoeBiden says

Onvacation says

Big_Johnson says

I gave up a long time ago to believe things for the avg joe will get better. They get worse every year instead.

Stolen elections have consequences.

preaching to the query

You meant this? 🤣

Misc says

Do you think for an instant that by repealing Prop 13, the other taxes would decrease?

Woah, talk about missing the point.

The point is that Prop 13 is just a way for people that own land to sponge off of others, to be parasites.

All other taxes should go to ZERO and land value tax should go up to the point where there is no profit in simply owning land and letting it sit there unimproved.

The problem is getting people who think they can scam everyone else by owning land to see that everyone trying to scam everyone results in a worse economy for everyone. Landowning is completely non-productive. It does nothing to increase economic activity.

There's an Eastern European story about a small town dinner where everyone was supposed to bring some wine to pour into a barrel to be shared among all guests. Everyone brought water instead, assuming that others would pay their costs and no one would notice the slight dilution. It was discovered when guests went to drink, and realized that they ALL had tried to scam everyone else, lol.

Landowners opposed to land value taxes are exactly like that, hoping to skim wealth off of the productive work of others without doing anything for it at all.

You could spend your time doing something worthwhile. Something that benefits society. Heck, even the guilded age rich did more for society. And then thankfully they were broken up. Only to face it again.

GNL says

You could spend your time doing something worthwhile. Something that benefits society.

I think Habitat For Humanity is one example of this. I'd like to see more of this to help bring affordable housing.

Another is volunteer time as a lawyer, dentist, doctor or even a tutor for math and science. Or volunteer to help fix cars owned by the lower working class.

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ad says

GNL says

You could spend your time doing something worthwhile. Something that benefits society.

I think Habitat For Humanity is one example of this. I'd like to see more of this to help bring affordable housing.

Another is volunteer time as a lawyer, dentist, doctor or even a tutor for math and science. Or volunteer to help fix cars owned by the lower working class.

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Even starting a business can be a big benefit to society. I own a business and am very proud of that. My business benefits me but only if I benefit many many people. The business I am in is one that makes it possible/feasible for an independent person to start and succeed in their own business. We are committed to eliminating the middle man in my industry. Possible? Probably not but, we shall ceaslessly continue on to our goal.

I find it interesting that the only people on Patnet that beat their chests are those in RE. Do Eman and Rubicon (I think he's changed his name again) really think they are the only multi millionaires on this forum?

Beating my chest? In what way? I stay in the circle of my competency and talk about what I know. I I stick to facts and don’t like to speculate.

People whine and bitch about Prop 13 and talk about affordable housing while they don’t know why builders couldn’t build affordable housing in CA. Then they claim builders are being greedy while they keep voting for the same clueless politicians, who are good at shifting the blames to others while not providing any solutions?

You're right Eman, I shouldn't have included you in that comment.

Eman says

People whine and bitch about Prop 13 and talk about affordable housing while they don’t know why builders couldn’t build affordable housing in CA. Then they claim builders are being greedy while they keep voting for the same clueless politicians, who are good at shifting the blames to others while not providing any solutions?

You are mixing so many unrelated topics into Prop 13 to confuse. Not sure if that is intentional to get fat tax subsidies at the expense of the rest.

Look at this interactive map: https://www.taxfairnessproject.org/
Would you believe that this $9m mansion in ritzy Presidio Heights pays the same tax as a $300k starter home in Richmond?
Does Atherton needs tax subsidy of average $35k/year where ultra rich live!

prop 13 isn’t a problem, at least not in single family. i know many old people in ca, if prop 13 gone they’d be on the street. after paying all their life, on a street when they can no longer provide. that’s unimaginable cruelty. there’s a lot of wrong in america and CAlifornia, how its ran, corruption, selfishness, but it isn’t in prop 13. just look at policies that drive up rents, it’s nuts. and the more costs get added, the higher costs go. i’m of same opinion as eman on buying… rents will always catch up and surpass in a long run in CA.

nobody here has a solution, because there isn’t a simple one, every solution requires a lot of pain with no guarantee of results.

Blue says

Would you believe that this $9m mansion in ritzy Presidio Heights pays the same tax as a $300k starter home in Richmond?

I guess that is why the sales tax is 7.25% in California (compared to 4% for Georgia) and the income tax would be very high for the owner of this mansion if they make a lot of money as a California full time resident.

The California sales tax and the income tax compensate for the low property tax ?

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