The tax increase California Republicans aren?t talking about
- Thread starter eyephone
- Start date
Liar Loan
Well-known member
If the SALT deduction was already previously disallowed under AMT for most of these people, why would capping the deduction at $10k have any affect on them? At least now, they can deduct something.
I think it has more to do with the double whammy of rates increasing significantly from last year, and the cap on mortgage interest deductions being set at $750k. Many of the buyers in the $1.5-$3 million range still take out jumbo mortgages so this hits them the hardest. When you get above $3 million buyers tend to start paying all-cash, so it makes sense that rates/deductions are not slowing them down as much.
I think it has more to do with the double whammy of rates increasing significantly from last year, and the cap on mortgage interest deductions being set at $750k. Many of the buyers in the $1.5-$3 million range still take out jumbo mortgages so this hits them the hardest. When you get above $3 million buyers tend to start paying all-cash, so it makes sense that rates/deductions are not slowing them down as much.
morekaos
Well-known member
eyephone said:
To be honest, I don't care. My house (though valuable) is my home and whatever value it holds will be my kids problem some time down the road. I think Cali real estate could use a good coming to God correction anyway, its way out of hand. No one can afford to live here any more.
eyephone said:
forbes seems to think so
1. Orlando, Fla.
Average home price: $247,550
3-year population growth: 7.6%
2-year job growth: 7.1%
1-year home price growth: 9%
3-year price growth forecast: 35%
3. Jacksonville, Fla.
Average home price: $247,809
3-year population growth: 5.9%
2-year job growth: 6.1%
1-year home price growth: 8%
3-year price growth forecast: 20%
9. Fort Worth-Arlington, Texas
Average home price: $235,398
3-year population growth: 5.6%
2-year job growth: 5.0%
1-year home price growth: 11%
3-year price growth forecast: 26%
12. San Antonio, Texas
Average home price: $232,025
3-year population growth: 6.5%
2-year job growth: 4.6%
1-year home price growth: 7%
3-year price growth forecast: 20%
https://www.forbes.com/sites/samanthasharf/2018/02/01/full-list-where-to-invest-in-housing-in-2018/#5113d06e627e
zubs
Well-known member
If you don't have CA income taxes for funding, it will have to come from somewhere else like property tax.
Doesn't Texas having no state income tax, but a 3% property tax? That 3% keeps property from bubbling up. Prop 13 artificially keeps housing expensive and keeps me from selling any of my CA real estate. Imagine my property empire when I'm older..... All paying low ass property taxes from 20-40 years ago.
Doesn't Texas having no state income tax, but a 3% property tax? That 3% keeps property from bubbling up. Prop 13 artificially keeps housing expensive and keeps me from selling any of my CA real estate. Imagine my property empire when I'm older..... All paying low ass property taxes from 20-40 years ago.
