This is what proposition 13 in California was designed to prevent. This is where we will be going if well meaning people like @kimmaicutler get their way....
https://www.seattletimes.com/seattle-news/enough-is-enough-some-local-homeowners-say-this-years-property-tax-increase-will-force-them-to-move/ …
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Replying to @wingod
they should just raise the income exemption ceiling.
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Replying to @kimmaicutler @wingod
Their home is worth 1.4 million which was built in 1980, they can get a reverse mortgage if their stated goal is to remain in the house. Their are several options available besides poor me. Prop 13 must end.
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Replying to @marko1332 @kimmaicutler
Reverse mortgage? Are you kidding me? Do you have any idea how regressive that idea is?
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Replying to @wingod @marko1332
I don’t think people should be forced into reverse mortgage. That’s a bad idea, fraught with predatory risk. Deferral til sale at a higher income cap might be interesting though.
1:14 PM - 2 Apr 2018
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