The GOP tax plan could be the death of Prop. 13
http://www.latimes.com/opinion/op-ed/la-oe-dayen-gop-tax-prop-13-20171109-story.html
Los Angeles is quickly becoming a place exclusively for the white and rich
- Thread starter Jimi Swagger
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The GOP tax plan could be the death of Prop. 13
http://www.latimes.com/opinion/op-ed/la-oe-dayen-gop-tax-prop-13-20171109-story.html
didn't that basically begin the reagan revolution? now republicans are gonna kill it.The GOP tax plan could be the death of Prop. 13
http://www.latimes.com/opinion/op-ed/la-oe-dayen-gop-tax-prop-13-20171109-story.html
Tech money + nimbys + the Bay Area being a peninsula + foreign buyers speculating due to tech money. Perfect cocktail for these retarded ass real estate prices.
Used to want to live there for a year or two before. Then I saw it was one of the most 5 expensive cities on Earth. fukk that.
Having one season comes with its fees.
so having $1.25M in equity will kill you. hit the lotto and not realize it breh.
No breh you said you can't get priced out. here in Chicago property tax is roughly 10%, so on a 1.5M home that could be $150K unless you argue for deductions, so yes property tax can price you out of a home even though you own it free and clear, which is a major problem in Chicago right now for a lot of black folk in areas like Bronzeville, Oak Park, Rogers Park, etc.
nah breh where are you getting these numbers from? cook county is 2%.
and yes property taxes can force you to sell if your home value goes up from 250k to 1.5m and you don't what to do in that situation. still doesn't change the fact that the person had a winning ticket and threw it away.
Yep, Koreans
Regardless Prop 13 is not a magic bullet that keeps living in California affordable despite what is touted in mainstream news and public opinion It's more useful for corporations to dodge taxes and taxpayers have to eat the cost Probably not best to use a San Diego article but you get the picture. Corporate personhood run a muck again.The GOP tax plan could be the death of Prop. 13
http://www.latimes.com/opinion/op-ed/la-oe-dayen-gop-tax-prop-13-20171109-story.html
Prop. 13 corporate loopholes hurting California taxpayers
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Yes, thats pandemic in every metro US city but for LA:
U.S. State Department EB-5 visas allow foreign investors to contribute $500,000 to a real estate project or REIT (Real Estate Investment Trust) in exchange for a Green Card for themselves and their immediate family. Most of the applicants and those receiving these visas are from China, with the line of visa applicants is longer than the number of EB-5 visas. There is now ample documentation that most of this EB-5 money goes into high-end, gentrifying urban real estate projects, with LA now a major destination. According to the Pasadena Star News, which interviewed USC law professor Neils Frenzen, “They (EB-5 visa holders) are investing in multi-investor projects like some of the big buildings that are going up in downtown L.A.,” he said. “Those are basically EB-5 investment pools. They are coming from developers or whoever is behind the development of the projects.”
No, Gentrification Doesn’t Just Happen … City Hall Promotes It at Every Turn
Every major city is experiencing this. It's reverse white flight. They know what's up as everything happens in the city and they're pricing the poorer out. The realtors took advantage with those shytty loans and they're not done.
The less fortunate will still find a way. Instead of apartments they'll get cheap houses in the burbs.
The less fortunate will still find a way. Instead of apartments they'll get cheap houses in the burbs.
the 2009 market crash was the biggest scam of all time, they pumped the market, took legal ownership of all the houses and sold the loans to the government, crashed the market, then they picked all the houses up for cheap as fukk when the people had no money. 5 years later the prices all go back to normal and they dump all their money to rich fukks over seas because americans now have no equity/cash because they got screwed in the crash. It was the biggest robbery in the last 100 years... they fukked it all up
ejthompson23
Vagabon
Quick question, the article cleared said after years of disinvestment, south central had a lot of cheap land that the whites exploited and bought...now what stopped blacks and Latinos (since they're mentioned in the article) from buying up those cheap land and properties? 
I know we look for the cac scapegoat all the time but why didn't we buy up those properties? Remind of me Jay-z saying them N.Y brownstones that cost millions now used to be sold for a $1 in the 80s but yet damn near no black people bought them 
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I know we look for the cac scapegoat all the time but why didn't we buy up those properties? Remind of me Jay-z saying them N.Y brownstones that cost millions now used to be sold for a $1 in the 80s but yet damn near no black people bought them ...Look at black vs white income and assets for the last 100 years, and you will have your answer. I am sure some black people did buy property, far out numbered by the deeper pockets and deeper numbers of whites. Simple.
Depends ...we are in a bubble right now and Trumps presidency will ensure some lax laws
so speculation from Silicon Valley to cryptocurrency to property is in full swing.
If you can cash out within the next 3 years with some appreciation then maybe it's worth it
but I'm not a speculative type especially when it comes to property.
$cam-U-Well_Jack$on
Superstar
I'd love to live in LA but that cost of living and poor wages is a muthafukka. I'll stay my blike aice right here in Vegas.
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