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What area are you referring to specifically?  I thought Elderberry is occupying that corner of PS5A.

Boglehead strategy to wealth accumulation is a pretty decent one. :)

I read somewhere that the Senate bill actually has some provisions that help out landlords/rental property - the ability to depreciate over a shorter time frame (for both residential and commercial), and possibly a lower tax rate on those who make over a certain amount from rental income (in...

The construction by the toll road are the Cal Pac homes, and that is in area 4B, I believe.

The most recent phase release in Piedmont has those homes at low 1.4 mil, so that listing is actually less than the current base value price of that home.  Pretty crazy...

Yeah, we'll see.  I have curiously been watching inventory the last 1-2 weeks, and it does still seem that a lot of new listings are quickly being bought/going to "pending" status.  Although that's moreso for sub-1 mil property, not as much for property beyond that level.

Yeah, that's a good point too.  So do you agree with the projected ~10% decline?

We'll see.  I'm not sure we'd see a 10% price drop in Irvine.  Even when the housing market completely collapsed last decade, and people were forced to sell because they couldn't afford their ridiculous loan payments, Irvine "only" dropped 25%.  People won't sell at a loss if they don't have to...

I agree.  If the starting price is low 900k for an 1800 sq ft courtyard home in PS4B, I?d go with the larger Legado or Juniper homes in PS5A for the same price.

Wow.  That puts the price on par with Trellis Court, or even slightly more expensive, for the exact same home.

We'll see.  Even if SALT is eliminated, I suspect you'll see a slowdown in housing sales (due to the 5 year rule as well), but I don't think you'll see prices really regress much.  This isn't 2006-2009, when people put 0% down and could just walk away from their unaffordable homes/mortgages. ...

I will vote for you if you can make this happen :)

Great question.  There was another article stating how the GOP House members in NJ/NY pushed Brady really hard with the proposed repeal of state/property tax deductions and got him to allow the 10k property tax deduction.  Of note, this is particularly useful for NY/NY, as their property tax...

Basically, a few of the blue coastal states stand the most to lose - NY, NJ, CA.  Most of the other parts of the country actually aren't able to deduct their mortgage interest / property taxes, or if they do, to a very small extent. 

The Senate, reportedly, is actually proposing that property tax not be deductible at all.  Thus, no more state or property tax deductions at all, at least per the reports as of now...

Interestingly, I got a call last week from Lago about "special incentives" to purchase one of their phase 1 homes.  I never called back, but it seems to indicate that they aren't exactly flying off the market.

From what it appears, you would have to wait until November 2021.  I don't think this is a retroactive situation like the mortgage interest deduction clause. Interestingly, there is also an AGI clause associated with it now as well, such that if you earn more than 250k/yr (or 500k/yr for a...

Agreed, it's hard to project the impact.  Just some initial guesses from both sides: 1.  Buyers:  It will definitely subtract some buyers from the pool, but probably not too many overall.  The elimination of AMT helps offset some of the tax changes, so in terms of what people "take home," it'll...

What you might see in terms of a trend, perhaps, is that less people will want to sell (in addition to maybe less people buying) so they can retain their current MID and situation.  This will further be compounded by the change from having access to the 500k free capital gains at the 5 year mark...

Ah okay, good point, thank you for clarifying.  :)