homes w/ values of more than $1M describes a lot of shacks across coastal California
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Replying to @kimmaicutler @DarwinBondGraha2 replies 0 retweets 2 likes
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Replying to @kimmaicutler
Slap a mansion tax on that and call it a day.
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Replying to @DarwinBondGraha
what does that mean though? Someone might have bought that w/ 20% down and is paying $4,500/mo in mortgage/taxes &
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Replying to @kimmaicutler
I'm being cheeky. For the most part, if your home is worth >$1M, you're doing good. SF is an extreme outlier.
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Replying to @DarwinBondGraha
yeah but I think it's different if your house is worth $1M at a 4X on when you bought and it's fully paid off vs you're
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Replying to @kimmaicutler @DarwinBondGraha
or you're a cash poor senior and a missed step or payment risks the house you've lived in for decades
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Replying to @kimmaicutler @DarwinBondGraha
that's why it's so hard to reform these things bc some people got a sweet deal and re-fied all the way down and have 000s
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in equity and some are totally leveraged to the hilt and can't deal w any fluctuations bc they don't have the income
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