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
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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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
This seems primarily driven by aging population, not inheritance (yet). Vast majority of houses are sold after being inherited.
That being said, I’ve wondered whether it would be revenue positive to pay older homeowners to sell.
it is revenue positive for older homeowners to sell. They do it all the time and retire to bigger, nicer properties elsewhere.
but if your kids couldn't afford to stay and wanted to, then you'd bequeath to them at the same tax rate.
Then the kids can be super smug to their higher taxed neighbors, as if they've done something clever.
ask the two Prop. 13 aristocrats who wrote this hit piece: http://www.truth-out.org/news/item/40509-yimbys-the-alt-right-darlings-of-the-real-estate-industry …
YIMBYs must make peace w/other housing activists, esp. re: assumption that existing residents must be evicted in order to build new housing.
that's not what happens in SF. New housing is generally built on parcels that were gas stations, etc. w/ no housing on them.
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