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Good news on the rebuilding front
RaceBannon
Member, Swaye's Wigwam Posts: 107,737 
in Tug Tavern
Now with less red tape?
Comments
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.
H said they were gonna change their ways. So confused.
Imagine telling land and homeowners that they have no right to sell their property.
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.
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
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.
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
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.
I don't know how any of these people are going to be able to find home insurance.
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.
The biggest problem is game theory. Whoever puts the first shovel in the ground is taking the biggest risk. And those willing to take that risk and get the reward are being shutout by Newsome.
Is this what you girls have decided to go with?
Who decides what offer is acceptable for a homeowner to accept?
The state?
Feel free to flesh it out H. How is this going to help people sell their property?
And only those with the deepest pockets take the risk because they can wait.
In other words Newsom donors
As dumb as H
Newsom putting his future in national politics by arguing on TwitterX with a Texas senator over governing his own state is on-brand for him.
Extreme narcissism is always a treat to witness when the person is in a life meltdown.
If the powers that be actually want to help the people affected and not have them sell out to “scammers”, suspend property tax bills to give people a chance to assess the situation.
Madam, no one says you can't solicit an offer yourself, and no one says you can't offer your property for sale at any fucking price you want.
You girls are embarrassing yourselves. Shrill and hysterical.
So it's doesn't do anything. Got it
Thoughts on why he issued the EO and who decides what constitutes a low ball offer?
If you don't know just say so
Maybe it doesn't do a damn thing. Maybe everyone has their super sharp wits about them just like you girls do and wouldn't be tricked into selling low. But you sure got your panties in a bunch about it.
What's low ball for a piece of property depends on the property.