@kimmaicutler I would suspect the effect is much larger today because of lower interest rates, the tax portion of carrying cost is higher
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@kimmaicutler ie cost of paying a 3% property tax is relatively smaller when mortgage interest rate is 10% than when mortgage rate is 3%
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@kimmaicutler just give them medallions instead of deeds and be done with it :)Thanks. Twitter will use this to make your timeline better. UndoUndo
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@kimmaicutler@vgr Those cuts to property taxes also did a lot of damage to California's public schools.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@kimmaicutler Well known economic reality in CA: Prop 13 leads to inflated sale price b/c buyer is locking in property tax schedule.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@kimmaicutler Coincidence that residential property turnover averages 7 years?Thanks. Twitter will use this to make your timeline better. UndoUndo
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