California, a feudal, inherited state. Don't sell your house bc your kids, grandkids can keep your 70s-era tax rates http://www.lao.ca.gov/Publications/Report/3693 …pic.twitter.com/25sRais4CX
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The capital gains hit runs counter to the property tax break. $500K exclusion not inflation-adjusted. Lowers what they can afford to bid.
True, mileage may vary, maybe that's why only ~7k prop60/90 sales out of 456k total sales in CA last year (1.5%)
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