Good news on the rebuilding front
Now with less red tape?
Comments
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More government is always the Left’s/Dems’ answer. Pay more taxes, suckers and losers!
Newsom is also a real estate agent now, too, with the power of putting investors in jail backing him up.
@HHusky’s America.
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H said they were gonna change their ways. So confused.
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Imagine telling land and homeowners that they have no right to sell their property.
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Yep, no predatory buying is Newsome’s edict. Can’t sell at below market prices. Whatever that means considering there is no market because of government policy.
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How does the state set new property tax values?
You get taxed at the purchase price as long as you own. New owner pays on what he paid
Will Newsom claim the land is still at the value it was when the homeowner purchased? Are taxes still due
There is only one predator here
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2008 financial crisis came later than it should of because the markets for the derivatives evaporated. No sales so how do you price. They kicked that one two years down the road.
The price edict is similar in that it’s being done to intentionally kill the free market toward a desired outcome that the free market would never choose to deliver on its own. Instead we’ll get a central planned outcome that will have some very bad inintended consequences that no one could ever see coming. No one except for this board that is.
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Having been involved in the repo game in 12 and 13 I can confirm California stopped the game before it ran its course leading to unaffordable housing and rental costs today
The winners were hedge funds who buy politicians at a discount on the courthouse steps
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Don’t see how a price edict could stand for too long legally speaking. Probably nothing happens for awhile just due to uncertainty. If you rebuild is there going to be a new strip mall across the street or low income housing?
Probably the best move to eventually get the values up to 80% of what they were would be a property tax holiday. Would allow the middle class of the Palisades to let it play out.
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I don't know how any of these people are going to be able to find home insurance.
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That's the biggest problem. No fire insurance, no loan. Even if you had the cash you could only sell to someone else who has the cash and still not having your home insured regardless of the lack of a mortgage is negligent unless you are receiving your financial advice from a mythical MBA. So the solution to a moron is if no private insurer will issue you insurance get the government to do it. Sort of like student loans. Nice investment by the government there.
