Your argument was people in CA and NY will be screwed by higher taxes. Most of them won’t. Higher tax bills in CA and NY won’t sink the economy.
Nationally, over 40% of households are already paying 0% income tax. It’s not really possible to cut their taxes more. High income earners will get most of the cuts, and they mostly live in expensive cities.
I heard they are putting something on the ballot to revise how prop 13 is handled for commercial property. I don’t know exactly what is being done tho.
IT would probably take some time for housing to see the impact, but presumably, more houses will be available from old people (future old, i mean - i don’t think the law would affect existing owners).
Maybe you were the one. I just remember most people were surprised about it being lower except one person would pay more. Get married and have some kids It’ll instantly lower your tax bill.
In these areas, I have seen offers coming beyond what seller’s are expecting ! One of my bids, Seller has floated a counter offer to four parties asking 75k higher than highest bid, one declined counter, two accepted counter, but the last one gave 25k more than counter offer, got the home. The last party wants to defeat all other three parties, that is all.
95% of technology stocks issued or ipoed here are no longer traded on stock market.
I do agree the valuation of stocks and local homes are artificially inflated. What may be impacted later this year will be these companies doing large business with China. When Empire strikes back their stocks will bleed. QCOM, MU, AVGO, SWKS all have way more market share over Asia than at home.
Again, if you had worked with the listing agent, he would’ve told you that there was a beating counter 25k above, in which case you would be in a position to offer 26k above and get the house.