real estate is the most complex social issue there is. Time, money, people & society all meet in/over real estate.
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Replying to @macajemianuts
I understand that but CA has a system that tilts too heavily toward giving all returns, $$$ to land owners.
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Replying to @kimmaicutler
maybe. It also fosters innovation unlike anywhere that helps the world unlike anything ever in history. Be careful w/change.
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Replying to @macajemianuts
the real estate system is *not* adding to the situation. It is leaching off of it.
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Replying to @kimmaicutler @macajemianuts
system probably would've broken down earlier if the industry's income/capital gains tax revenue weren't holding up the state
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Replying to @kimmaicutler
and what? NY taxes are so high few can buy property.
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Replying to @macajemianuts
property taxes are so low in CA that they got priced into higher property values that now no one can afford
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Replying to @kimmaicutler
yes. People bought cheap & prices exploded. Taxes lag or people lose houses. Plus few new bldgs=high rent. Catch22++.
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Replying to @macajemianuts
take it out of capital gains if people choose to sell.
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Replying to @kimmaicutler
I mean I see where you're coming from but buying a house in 75 on wages that haven't appreciated, while maintenance has?
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and it also functions as a tax on what this region can create, innovative on. Housing appreciating in line w/ wages is fine.
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