Wherever “rich people” live, they will be taxed out the wazoo and therefore prices will rise.
>Wherever “rich people” live, they will be taxed out the wazoo and therefore prices will rise.<
I was out in L.A. back when Reagan was inaugurated. I remember being astounded that a small house way out in the suburbs cost over $200,000.00 back then. We bought our 1st house in my home town in the mid eighties for under $50,000.00 and it was huge compared to those homes in California.
My question is, how does a middle class person come close to affording the real estate taxes on a home assessed at close to $750,000.00??