Dont you work at a VC firm? And youre complaining about people hoarding money? Lol
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say what you will about the merits of venture capital, my dude, at least the asset being boarded isn’t completely idle lol
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This seems primarily driven by aging population, not inheritance (yet). Vast majority of houses are sold after being inherited.
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That being said, I’ve wondered whether it would be revenue positive to pay older homeowners to sell.
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Some argue that immigrants are taking resources, but they are really paying for what these heirs don't contribute.
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I think a lot of "heirs" contribute, it's just impossible to keep up with current housing prices.
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@kimmaicutler Kim, is there an organized effort for Prop 13 reform that I can join, other than the general YIMBY movement? -
*reform* not repeal. Full repeal would be terrible.
@evolve_ca is a good start on commercial vs. residential.
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Also >55s can take their prop13 wins with them to a new home if lower value, but lobbyists are working to widen thathttp://www.sfchronicle.com/business/networth/article/How-older-CA-homeowners-can-get-property-tax-6778070.php …
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in the desperate situation we're in, it isn't necessarily a bad thing that we encourage transfers.
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